The following table shows the total utility and marginal utility derived from the consumption of scones. The first column of the table represents the number of scones a consumer consumes in a day. The second column of the table presents the total utility derived from that consumption, and the third column shows the marginal utility of each additional scone. The marginal utility of the fourth scone is _____ units.
Table 6.3
Definitions:
Positive Externalities
Benefits that an individual or firm's actions impose on others without compensation, leading to socially beneficial outcomes.
Unsafe Intersection
A road junction that presents a higher risk of accidents due to poor design, insufficient visibility, inadequate signage, or other factors.
Traffic Light
A signaling device positioned at road intersections, pedestrian crossings, and other locations to control flows of traffic.
Stop Signs
Signposts that instruct drivers to come to a complete halt, observe the right-of-way, and proceed with caution at intersections.
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