Instructions: Move the slider at the bottom of the diagram to change the quantity consumed for all the available quantities on the total utility and marginal utility graphs. a) What is the total utility of the first unit consumed? utils. b) What is the marginal utility of the first unit? utils. c) What is the total utility of the first two units consumed? utils. d) What is the marginal utility of the second unit? utils. e) As the quantity consumed increases, the total utility is (Click to select) v while marginal utility is (Click to select) units. What is the f) If this good is available for $0 (a free good), what is the maximum amount an individual would consume? marginal utility of this last unit? | utils.

Instructions: Move the slider at the bottom of the diagram to change the quantity consumed for all the available quantities on the total utility and marginal utility graphs. a) What is the total utility of the first unit consumed? utils. b) What is the marginal utility of the first unit? utils. c) What is the total utility of the first two units consumed? utils. d) What is the marginal utility of the second unit? utils. e) As the quantity consumed increases, the total utility is (Click to select) v while marginal utility is (Click to select) units. What is the f) If this good is available for $0 (a free good), what is the maximum amount an individual would consume? marginal utility of this last unit? | utils.

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter6: Consumer Choice And Demand

Section: Chapter Questions

Problem 1.3P

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Is it possible for total utility to increase while marginal utility diminishes? Explain.
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