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Utility Theory: Expected & Marginal

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Joanne gets a total of 30 units of utility from eating one slice of pizza and a total of 50 units from eating two. What is her marginal utility from the second slice?

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1. Joanne gets a total of 30 units of utility from eating one slice of pizza and a total of 50 units from eating two. Her marginal utility from the second slice has:

2. Mark and Mary have received 200 units of utility from the first television they purchased. How much utility will they get from the second one?

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Quiz & Worksheet Goals

You can test your understanding of utility theory and examples of it by using the quiz and worksheet. You need to know how to calculate utility for the quiz.

Quiz & Worksheet Goals

Take the quiz to test your understanding of:

  • Calculating utility
  • Finding expected utility
  • Utility theory
  • Finding marginal utility

Skills Practiced

  • Knowledge application - use your knowledge to answer questions about finding marginal and expected utility
  • Reading comprehension - ensure that you draw the most important details from the lesson on utility theory
  • Information recall - access the knowledge you have gained about finding utility

Additional Learning

To learn more, use the lesson called Utility Theory: Expected & Marginal. Other topics you can review include:

  • How expected utility calculations can be used
  • The differences between marginal and expected utility
  • Why utility theory matters
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