Use the following for questions 23-27.
Exhibit: Total Utility and Marginal Utility from Consumption of Good A

-(Exhibit: Total Utility and Marginal Utility from Consumption of Good A. If the total utility curve of good A is plotted on a graph, the slope of TU between 3 units consumed and 4 units consumed is:
A) 1.
B) 2.
C) 3.
D) 4.

Question

Use the following for questions 23-27.
Exhibit: Total Utility and Marginal Utility from Consumption of Good A
 
-(Exhibit: Total Utility and Marginal Utility from Consumption of Good A. If the total utility curve of good A is plotted on a graph, the slope of TU between 3 units consumed and 4 units consumed is:
A) 1. 
B) 2. 
C) 3. 
D) 4.

Quizplus · Accepted Answer

The slope of the Total Utility (TU) curve between any two points is calculated by the change in total utility divided by the change in the quantity consumed. This slope represents the Marginal Utility (MU), which is the additional utility gained from consuming one more unit of the good. If the slope between 3 units and 4 units consumed is given as an option, it implies that the marginal utility of consuming the fourth unit is the difference in total utility between consuming 4 units and 3 units. Without specific values from a graph or table, the correct answer cannot be determined from the information provided. However, if option B (2) is marked as correct, it suggests that the increase in total utility from consuming the third to the fourth unit is 2 units of utility, indicating that the marginal utility of the fourth unit is 2.

Use the Following for Questions 23-27