Marginal/Cardinal Utility MCQ Quiz

  • AP Econ
  • IB Econ
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1. Which one do you like?

Explanation

Option D is the Equimarginal Principle just written differently.

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About This Quiz
Marginal/Cardinal Utility MCQ Quiz - Quiz

Engage with foundational economics concepts through this Marginal\/Cardinal Utility MCQ Quiz, designed to test and enhance your understanding of utility in economic theory.

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2. Which one do you like?

Explanation

Individual gets 2 utils from each dollar spent. If price is 2 that means he derives 4 utils from buying good X. Hence, consumer needs to consume till the point where MUx is equal to 4 which happens at 4 units of consumption.

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3. Which one do you like?

Explanation

MUx

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4. Which one do you like?

Explanation

We did this in class already - you're welcome.

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5. Which one do you like?

Explanation

To maximize utility, consumer needs to adjust consumption of both the goods until the marginal utility per dollar from each good is the same (equimarginal principle).

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Which one do you like?
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