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Q. 3

Expert-verified
Found in: Page 452

### Economics Today

Book edition 19th
Author(s) Roger Miller
Pages 753 pages
ISBN 9780134478777

# Where possible, complete the missing cells in the table below.

The total utility of the first bag of french fries is $10\left(0+10=10\right)$, the second bag of french fries is $18\left(10+8=18\right)$, and the third bag of french fries is role="math" localid="1651853961635" $20\left(18+2=20\right)$. The marginal utility of th$\left(21-21=0\right)$e fourth french fries is $1\left(21-20=1\right)$ and the bag of the fifth french fries is.

See the step by step solution

## Step 1- introduction

Total utility is the total utility that a consumer receives after consuming all goods. Marginal utility is the utility that a consumer receives after consuming additional good.

In the table above, you need to calculate the total and marginal utility of cheeseburgers and french fries. Marginal utility is equal to the change in total utility divided by the change in quantity.

## Step 2- Explanation

The total utility of the third cheeseburger is $48\left(36+12=48\right)$, the fourth cheeseburger is $\left(48+8=56\right)$, and the fifth cheeseburger is $\left(56+4=60\right)$. The marginal utility of the first cheeseburger is role="math" localid="1651853457906" $\left(20-0=20\right)$ and the marginal utility of the second cheeseburger is $\left(36-20=16\right).$