Practice - Utility
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Practice Questions
Test your understanding with targeted questions
Define utility in economic terms.
💡 Hint: Think about what you feel when you enjoy your favorite food.
What does marginal utility represent?
💡 Hint: Consider how much happy you feel after eating that extra slice of cake.
4 more questions available
Interactive Quizzes
Quick quizzes to reinforce your learning
What is the term used to describe the satisfaction derived from consuming goods?
💡 Hint: It starts with 'U' and is all about satisfaction.
True or False: Marginal utility always increases with additional consumption.
💡 Hint: Think about enjoying your favorite treat - less joy as you eat more.
1 more question available
Challenge Problems
Push your limits with advanced challenges
A consumer receives a utility score of 100 from 10 apples. If they eat one more apple and the utility increases to 105, what is the marginal utility of that additional apple?
💡 Hint: Find the difference in utility produced by the consumption of the additional apple.
Given the following quantities and total utility of bananas: 1 banana gives 10 utils, 2 bananas give 18 utils, and 3 bananas give 24 utils, calculate the marginal utility for each additional banana consumed.
💡 Hint: Use the change in total utility to find marginal utility values.
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