Assume the total utilities corresponding to the first four units of a product consumed are 8, 12, 14, 15, respectively. The marginal utility of the third unit consumed is:
A) 2.
B) 14.
C) 3
D) 34.

Question

Quizplus · Accepted Answer

The marginal utility of the third unit is the change in total utility from consuming the third unit compared to the second unit: 14 - 12 = 2.

Assume the Total Utilities Corresponding to the First Four Units