Diane's favorite drink is chocolate milk. The first carton of chocolate milk sh…

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Wize University Microeconomics Textbook > Theory of Consumer Choice

Total and Marginal Utility

2 Activities

Diane's favorite drink is chocolate milk. The first carton of chocolate milk she drinks gives her 15 units of utility, the second carton gives her 7 units of utility. If Diane has two cartons of chocolate milk how many units of utility does she receive? 

More Total and Marginal Utility Questions:

Total utility

Marginal utility

Referring to the diagram above what is the marginal utility of the 2nd good? 

 If total utility from the consumption of some product is decreasing as more units are consumed, then marginal
utility must be

Total Utility

 In economics, the term ʺ utilityʺ  is defined as the

Which of the following is true about marginal utility and total utility

Practice: Marginal Utility 1

Jim gets utility of 5 by texting his girlfriend once. His utility increases to 8 if he texts her a second time.
His marginal utility is________