Quantity of goods consumed.
1
2
3
4
5
6
Total utility
0
10
16
_
23
23
Marginal utility
0
10
4
_
1
_
A) complete the above table utility schedule
B)draw the marginal utility curve
C)1)At what quantity does TU equals MU
2) what is the value of MU when TU reaches maximum
3) what happens to value of TU as the quantity consumed increases
4) what happens to the value of MU as the quantity consumed increases
A) Complete the above table utility schedule:
Total utility
0
10
16
20
23
23
Marginal utility
0
10
4
3
1
0
B) Draw the marginal utility curve:
C)1) At what quantity does TU equals MU: 4
2) What is the value of MU when TU reaches maximum: 0
3) What happens to value of TU as the quantity consumed increases: It increases at a decreasing rate.
4) What happens to the value of MU as the quantity consumed increases: It decreases at an increasing rate.