Question 1
Measuring Satisfaction
The table shows Hibo's utility from consuming bagels.
| Number of Bagels | Total Utility from Bagels |
| 0 | 0 |
| 1 | 50 |
| 2 | 72 |
| 3 | 87 |
| 4 | 98 |
| 5 | 107 |
Hibo's marginal utility from the fourth bagel is ________. This illustrates the law of ________ (diminishing/increasing) marginal utility.
◦ 98, diminishing
◦ 98, increasing
◦ 11, diminishing
◦ 11, increasing
Question 2
Relationship between Utility and Consumption
The table shows Kaito's utility from consuming protein shakes and beef jerky.
| Number of Protein Shakes | Total Utility from Protein Shakes | Number of Slices of Beef Jerky | Total Utility from Beef Jerky |
| 0 | 0 | 0 | 0 |
| 1 | 21 | 1 | 49 |
| 2 | 32 | 2 | 71 |
| 3 | 38 | 3 | 81 |
| 4 | 39 | 4 | 94 |
| 5 | 35 | 5 | 100 |
| 6 | 28 | 6 | 101 |
If Kaito has an unlimited budget to spend on protein shakes and beef jerky, how many protein shakes and beef jerky will he consume? Assume that Kaito cannot consume more than 6 protein shakes and 6 slices of beef jerky.
◦ 4 protein shakes and 6 slices of beef jerky
◦ 4 protein shakes and 4 slices of beef jerky
◦ 1 protein shake and 4 slices of beef jerky
◦ 6 protein shakes and 6 slices of beef jerky
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