Table: Demand and Utility Schedules for packs of scented candles $$\begin{array} { | c | c | c | c | }
\hline \text { Price } & \text { Quantity Demanded } & \text { Marginal Utility } & \text { Total Utility } \
\hline \$ 8 & 1 & & \
\hline \$ 7 & 2 & & \
\hline \$ 6 & 3 & & \
\hline \$ 5 & 4 & & \
\hline \$ 4 & 5 & & \
\hline
\end{array}$$
-Her marginal utility of her fifth scented candle would be
A)$4.
B)$5.
C)$20.
D)$26.
E)$30.

Question

Table: Demand and Utility Schedules for packs of scented candles $$\begin{array} { | c | c | c | c | } 
\hline \text { Price } & \text { Quantity Demanded } & \text { Marginal Utility } & \text { Total Utility } \
\hline \$ 8 & 1 & & \
\hline \$ 7 & 2 & & \
\hline \$ 6 & 3 & & \
\hline \$ 5 & 4 & & \
\hline \$ 4 & 5 & & \
\hline
\end{array}$$
-Her marginal utility of her fifth scented candle would be
A)$4.
B)$5.
C)$20.
D)$26.
E)$30.

Quizplus · Accepted Answer

The marginal utility of the fifth scented candle is the additional utility she gains from consuming the fifth candle, which is represented by the price she is willing to pay for it, $4.

Table: Demand and Utility Schedules for Packs of Scented Candles