Refer to the figure below. The marginal utility of consuming the 2nd apple is: Select one:...

Question

Question

Refer to the figure below. The marginal utility of consuming the 2^nd apple is:

Number of ApplesTotal Utility 20 35 45 50 45 2

Select one:

a. 10

b. 15

c. 20

d. 35

Answer 1

Answer #1

Since marginal utility is the additional utility received by consuming an additional unit of good.

MU=TUn- TUn-1

MU of second apple =TU of 2 apple - TU of 1 apple

=35-20

=15

Hence MU of consuming second unit of apple is 15.

Hence option b is the correct answer.

Answer 2

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