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11 questions from this quiz
The impact of one more unit
Additional satisfaction from one more unit
Overall satisfaction from total quantity
Extra satisfaction decreases with more units
ΔTotal CostΔQuantity\frac{\Delta \text{Total Cost}}{\Delta \text{Quantity}}ΔQuantityΔTotal Cost
ΔTotal RevenueΔQuantity\frac{\Delta \text{Total Revenue}}{\Delta \text{Quantity}}ΔQuantityΔTotal Revenue
£20
£30
5 utility units
Due to diminishing marginal utility
Yes, MR exceeds MC by £20
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