Refer to the following figure to answer the following questions:

-The product's marginal utility in dollars is equal to
A) $250.
B) $500.
C) $150.
D) $15.
E) $20.

Question

Refer to the following figure to answer the following questions:
 
-The product's marginal utility in dollars is equal to
A) $250. 
B) $500. 
C) $150. 
D) $15. 
E) $20.

Quizplus · Accepted Answer

The marginal utility (MU) of the second unit is measured by the change in total utility between consuming one and two units, which is $30 - $15 = $15. Therefore, the marginal utility of the product in dollars is $15. As the price of the product is $15, the optimal choice is to buy one unit to maximize utility and minimize expenditure.

Refer to the Following Figure to Answer the Following Questions