Physician Visits/year Total Utility Marginal Utility 1 20 ? 2 30 ? 3 34 ? 4...

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Question

Physician Visits/year Total Utility Marginal Utility 1 20 ? 2 30 ? 3 34 ? 4...

Physician Visits/year	Total Utility	Marginal Utility
1	20	?
2	30	?
3	34	?
4	?	2
5	?	1

As more physician visits are consumed, marginal utility is:

a. Decreasing.

b. Increasing.

c. Decreasing, then increasing.

d. Not changing.

e. None of the above.

business economics

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Answer 1

Answer #1

Answer : Table interpret information:

Physician/ Visit per year	Total utility	Marginal utility
1	20	-
2	30	10
3	34	4
4	36	2
5	37	1

As more visit to the physician, Marginal utility has been start decreasing . This shows as more we visit to the physician less is the utility gained by the customer.

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Answer 2

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