Question: 5.1 Complete the table below. The table reflects Ben's sutility from the consumption of beers during an (5) 5.2 Answer the following questions relating to

5.1 Complete the table below. The table reflects Ben's sutility from the consumption of beers during an (5) 5.2 Answer the following questions relating to the table in Question 5.1 above: 5.2.1 What type of utility is the marginal utility approach based on? (1) 5.2.2 Is this type of utility realistic? Explain why or why not. (2) 5.2.3 Did Ben enjoy the first four beers? Explain your answer. (2) 5.2.4 Did Ben enjoy the fifth beer? Explain your answer. (2) 5.2.5 Did Ben enjoy the sixth beer? Explain your answer. (2) 5.2.6 What is significant about Ben' s total utility when he has consumed five beers? (1) 5.2.7 Explain what happens when Ben consumes the sixth beer. (1) 5.2.8 Once you have completed the table, you will notice that a pattern emerges. Identify the pattern by examining the relationship between the total utility and marginal utility columns. (3) 5.2.9 Because the pattern referred to in 5.2 .5 always holds true, it has been turned into an economic law. What is the name if this economic law and exactly what does it state? (3) 5.2.10 What is the name we give to the type of utility experienced by Ben when he consumes the sixth beer? (1)
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