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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is marginal utility?
💡 Hint: Think about the satisfaction from each extra unit you consume.
Question 2
Easy
How does total utility differ from marginal utility?
💡 Hint: Consider how you quantify satisfaction.
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 happens to marginal utility as more units of a good are consumed?
- It increases
- It decreases
- It remains constant
💡 Hint: Consider your enjoyment of a food item as you consume more.
Question 2
True or False: Total utility can decrease as more units are consumed.
- True
- False
💡 Hint: Think about the overall satisfaction derived.
Solve and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A consumer has a utility function of U(x) = 10x - x^2. Calculate the marginal utility for x=5.
💡 Hint: Use calculus to derive the marginal utility.
Question 2
If the price falls but the consumer continues to purchase the same quantity, how does that relate to marginal utility?
💡 Hint: Think about consumer rationality in choices.
Challenge and get performance evaluation