Econ 101 HW 3 - Question 1 Marginal utility is best defined...

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Question 1 1 points Save Marginal utility is best defined as a. the total utility you receive from consuming a certain number of units of a good. b. the total utility you receive from consuming an additional unit of a good. c. the additional utility you receive from consuming a certain number of units of a good. d. the additional utility you receive from consuming an additional unit of a good. Question 2 1 points Save Consider the marginal utility schedule in the attached file. What is the total utility of the 4th unit? Marginal Utility Schedule.htm a. 4 b. 14 c. 56 d. 76 Question 3 1 points Save In regards to the marginal utility schedule, at a price of $21, how many units will the individual purchase? a. 1 b. 2 c. 3 d. 4 Question 4 1 points Save In regards to the marginal utility schedule, at a price of $13.22, how many units will the individual purchase? a. 2 b. 3 c. 4 d. 5 Question 5 1 points Save How would you best describe the change between your answers to #3 and #4? a. An increase in quantity demanded.
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Econ 101 HW 3 - Question 1 Marginal utility is best defined...

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