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The utility schedule of a consumer for a brand of ice cream is shown in the table ...

The utility schedule of a consumer for a brand of ice cream is shown in the table below. Use the information to answer the questions that follow:

Units Consumed (Q) Total Utility (TU) Marginal Utility (MU)
0 0 -
1 10 10
2 19 R
3 P 6
4 30 5
5 31 S
6 Q 0
7 29 -2



(a) Calculate the values of P,Q,and S. (8 marks).
(b) Given that the jprice of ice cream is $ 1.00 per unit, at what level of consumption is the consumer in equilibrium? Explain your answer. (3 marks).
(c) Use a graph sheet, draw the marginal utility curve.(3 marks).
(d) State the law of diminishing marginal utility. (3 marks).




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