Question 3 Q.3.1 (Marks: 30) Frikkie's marginal utility and total utility from the consumption of a loaf of bread is depicted in the below table: Loaf of bread Marginal utility (utils) Total utility (utils) (20) 1 95 Q.3.1.1 2 Q.3.1.2 160 3 53 Q.3.1.3 4 31 244 Q.3.1.4 Q.3.1.5 263 6 11 Q.3.1.6 7 Q.3.1.7 281 Q.3.1.8 4 285 9 0 Q.3.1.9 10 -8 Q.3.1.10
Question 3 Q.3.1 (Marks: 30) Frikkie's marginal utility and total utility from the consumption of a loaf of bread is depicted in the below table: Loaf of bread Marginal utility (utils) Total utility (utils) (20) 1 95 Q.3.1.1 2 Q.3.1.2 160 3 53 Q.3.1.3 4 31 244 Q.3.1.4 Q.3.1.5 263 6 11 Q.3.1.6 7 Q.3.1.7 281 Q.3.1.8 4 285 9 0 Q.3.1.9 10 -8 Q.3.1.10
Chapter7: Consumer Choice: Maximizing Utility And Behavioral Economics
Section: Chapter Questions
Problem 1WNG
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Transcribed Image Text:Question 3
Q.3.1
(Marks: 30)
Frikkie's marginal utility and total utility from the consumption of a loaf of bread is
depicted in the below table:
Loaf of bread
Marginal utility (utils)
Total utility (utils)
(20)
1
95
Q.3.1.1
2
Q.3.1.2
160
3
53
Q.3.1.3
4
31
244
Q.3.1.4
Q.3.1.5
263
6
11
Q.3.1.6
7
Q.3.1.7
281
Q.3.1.8
4
285
9
0
Q.3.1.9
10
-8
Q.3.1.10
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