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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is total utility?
💡 Hint: Think about how you feel after eating a meal.
Question 2
Easy
Define marginal utility.
💡 Hint: Consider what happens when you eat one more piece of candy.
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 does total utility measure?
- Satisfaction from a single unit
- Overall satisfaction from multiple units
- Diminishing satisfaction
💡 Hint: Consider your level of happiness after eating a meal versus one bite.
Question 2
True or false: Marginal utility always increases as more units are consumed.
- True
- False
💡 Hint: Think of how you feel after several servings of food.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A consumer derives a total utility of 60 from consuming 6 oranges and 54 from 5 oranges. Calculate the marginal utility of the 6th orange. Discuss how the marginal utility affects their consumption choices.
💡 Hint: Think about how satisfaction changes as you continue eating.
Question 2
Explain how understanding marginal utility can help businesses in setting prices for products. Provide an example with your reasoning.
💡 Hint: Consider how restaurants might price their 'all-you-can-eat' specials.
Challenge and get performance evaluation