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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
Define Total Utility.
💡 Hint: Think about the entire experience of consuming the goods.
Question 2
Easy
What does Marginal Utility represent?
💡 Hint: Consider how satisfaction changes with an extra unit.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What is Total Utility?
- A measure of satisfaction
- The total amount spent
- How much a good is worth
💡 Hint: Focus on the meaning of satisfaction in economics.
Question 2
True or False: The Law of Diminishing Marginal Utility states that more consumption always increases total utility.
- True
- False
💡 Hint: Consider what happens as you consume more.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
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.
Question 2
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.
Challenge and get performance evaluation