Practice - Cardinal Utility Analysis
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Practice Questions
Test your understanding with targeted questions
Define Total Utility.
💡 Hint: Think about the entire experience of consuming the goods.
What does Marginal Utility represent?
💡 Hint: Consider how satisfaction changes with an extra unit.
4 more questions available
Interactive Quizzes
Quick quizzes to reinforce your learning
What is Total Utility?
💡 Hint: Focus on the meaning of satisfaction in economics.
True or False: The Law of Diminishing Marginal Utility states that more consumption always increases total utility.
💡 Hint: Consider what happens as you consume more.
1 more question available
Challenge Problems
Push your limits with advanced challenges
You consume apples receiving 10, 8, 6, and 4 units of total utility for each additional apple. Calculate the marginal utility for each apple consumed.
💡 Hint: Apply subtraction between total utilities.
If you increase your consumption from 3 oranges to 6 oranges and your total utility rises from 30 to 70, what is the average marginal utility from these additional oranges?
💡 Hint: Calculate the total increase over the number of new units consumed.
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