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Chapter 20: Q. 10 (page 452)

Draw a marginal utility curve corresponding to the total utility curve depicted in Problem 20-9.

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01

   Introduction

Changes in total utility are used to calculate a marginal utility curve. Changes in the total utility curve determine the slope of the marginal utility curve. A marginal utility curve is depicted graphically in the diagram below.

The marginal utility curve slopes downhill from left to right, as seen in the diagram above. When the total utility reaches its maximum, the marginal utility falls to zero.

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Most popular questions from this chapter

What is true of the marginal utility per dollar spent on a stomach pacemaker compared with the marginal utility per dollar of food consumed during that interval?

What fact ultimately constrains consumption of any item said to be available in "unlimited" amounts at a fixed price? (Hint: Recall the law of diminishing marginal utility.)

Illustrate Sue's new budget constraint and indifference curve in a diagram from the data in Problem F-3. Illustrate also the utility-maximizing combination of goods.

As an individual consumes more units of an item, the person eventually experiences diminishing marginal utility. This means that to increase marginal utility, the person must consume less of an item. Explain the logic of this behavior using the example in Problem 20-1.

Draw a marginal utility curve corresponding to the total utility curve depicted in Problem 20-9.
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