Logout Open In App
Open In App
Warning: foreach() argument must be of type array|object, bool given in /var/www/html/web/app/themes/studypress-core-theme/template-parts/header/mobile-offcanvas.php on line 20

Chapter 20: Q. 10 (page 452)

Draw a marginal utility curve corresponding to the total utility curve depicted in Problem 20-9.

Short Answer

Expert verified

...

Step by step solution

01

   Introduction

Changes in total utility are used to calculate a marginal utility curve. Changes in the total utility curve determine the slope of the marginal utility curve. A marginal utility curve is depicted graphically in the diagram below.

The marginal utility curve slopes downhill from left to right, as seen in the diagram above. When the total utility reaches its maximum, the marginal utility falls to zero.

Unlock Step-by-Step Solutions & Ace Your Exams!

  • Full Textbook Solutions

    Get detailed explanations and key concepts

  • Unlimited Al creation

    Al flashcards, explanations, exams and more...

  • Ads-free access

    To over 500 millions flashcards

  • Money-back guarantee

    We refund you if you fail your exam.

Start your free trial

Over 30 million students worldwide already upgrade their learning with Vaia!

One App. One Place for Learning.

All the tools & learning materials you need for study success - in one app.

Get started for free

Most popular questions from this chapter

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

From the data in Problem 20-3, if the price of a cheeseburger is \(2, the price of a bag of french fries is \)1, and you have $1 to spend (and you spend all of it), what is the utility-maximizing combination of cheeseburgers and french fries?

Using your answer to Problem F-8, draw Sue's demand curve for soft drinks.

What is true of the marginal utility per dollar spent on a stomach pacemaker compared with the marginal utility per dollar of food consumed during that interval?

At a consumer optimum involving goods Aand B, the marginal utility of good Ais 2utils, and the marginal utility of good Bis 8utils. How much greater or smaller is the price of good B compared with the price of good A?
See all solutions

What do you think about this solution?

We value your feedback to improve our textbook solutions.

Study anywhere. Anytime. Across all devices.

Sign-up for free