hapter 6 Quiz 00 Trang Le: Attempt 2 ions In the table, as Samuel\'s consumption

Question

hapter 6 Quiz 00 Trang Le: Attempt 2 ions In the table, as Samuel's consumption of ice cream cones increases Ice Cream Cones Total Utility s saved a) his total utility decreases, but his marginal utility increases. b) his total utility increases, and his marginal utility decreases then increases. c) both his total utility and his marginal utility increase. d) his total utility increases, but his marginal utility decreases 2 15 Save Question 3 (1 point) D arted Which of these is the best example of a framing bias?

Explanation / Answer

Answer.) d.) His total utility Increases, but his marginal utility decreases

Remember that

(MU)n = (TU)n - (TU)n-1 for all n

Note that while Total utility is increasing but marginal utility is decreasing as more ice cream cones are consumed.

Ice cream cones total utility marginal utility 1 50 50 2 90 40 3 125 35 4 150 25 5 165 15 6 175 10

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