Demand and Utility Table for Milk Shakes $$\begin{array} { | c | c | c | c | }
\hline \text { Price } & \text { Quantity Demanded } & \text { Marginal Utility } & \text { Total Utility } \
\hline \$ 4 & 1 & & \
\hline \$ 3.50 & 2 & & \
\hline \$ 3.00 & 3 & & \
\hline \$ 2.50 & 4 & & \
\hline \$ 2.00 & 5 & & \
\hline
\end{array}$$
-Your total utility for 5 milk shakes would be
A)$2.
B)$4.
C)$7.50.
D)$13.
E)$15.

Question

Demand and Utility Table for Milk Shakes $$\begin{array} { | c | c | c | c | } 
\hline \text { Price } & \text { Quantity Demanded } & \text { Marginal Utility } & \text { Total Utility } \
\hline \$ 4 & 1 & & \
\hline \$ 3.50 & 2 & & \
\hline \$ 3.00 & 3 & & \
\hline \$ 2.50 & 4 & & \
\hline \$ 2.00 & 5 & & \
\hline
\end{array}$$
-Your total utility for 5 milk shakes would be
A)$2.
B)$4.
C)$7.50.
D)$13.
E)$15.

Quizplus · Accepted Answer

The total utility for 5 milk shakes is calculated by summing the marginal utilities for each additional milk shake consumed. Since the table does not provide explicit values for marginal utility, we infer that the total utility increases as more milk shakes are consumed, reaching its highest value at 5 milk shakes. Without specific marginal utility values, we cannot calculate the exact total utility, but we understand it to be the sum of the utilities derived from each milk shake up to the fifth one. Given the options, the highest numerical value would logically represent the total utility after consuming 5 milk shakes, making option E the correct choice by inference.

Demand and Utility Table for Milk Shakes -Your Total Utility for 5 Milk Shakes Would Be A)$2

Demand and Utility Table for Milk Shakes -Your Total Utility for 5 Milk Shakes Would Be
A)$2