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2 The table shows the total utility that an individual derives from consuming different quantities of a
good.
quantity of good
(units)
total utility
(units)
1 24
2 45
3 63
4 78
5 90
6 99
The individual’s marginal utility of money is $1 = 2 units of utility.
What is the maximum quantity of the good that the individual will buy when its price is $6?
A 2 units B 3 units C 4 units D 5 units
HOW TO GET THE ANSWER.
good.
quantity of good
(units)
total utility
(units)
1 24
2 45
3 63
4 78
5 90
6 99
The individual’s marginal utility of money is $1 = 2 units of utility.
What is the maximum quantity of the good that the individual will buy when its price is $6?
A 2 units B 3 units C 4 units D 5 units
HOW TO GET THE ANSWER.