The Following Table Shows the Total Utility and Marginal Utility

question 68

Multiple Choice

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 total utility derived from the consumption of five scones is _____ units. ​
Table 6.3
​

• A)82
• B)30
• C)34
• D)27

Apply knowledge of price elasticity to discuss and predict consumer reactions to price changes.

Differentiate between elastic, inelastic, and unitary elastic demand based on graphical representations.

Explain the relationship between price changes, consumer expenditure, and total revenue.

Understand the concept of consumer surplus and how it can be affected by price changes.

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