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1.2 Individual economic decision making (A-level only)

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Question 1

A fitness enthusiast purchases 6 artisanal protein bars per week to maximize their total utility from this product.

The price of these protein bars increases by 30%, causing the consumer's weekly consumption of the bars to change.

Which one of the following combinations shows the most likely changes in the consumer's total utility from the protein bars and the marginal utility of the last bar consumed?

A

Total Utility: Decrease∣Marginal Utility: Decrease\text{Total Utility: Decrease} \quad | \quad \text{Marginal Utility: Decrease}Total Utility: Decrease∣Marginal Utility: Decrease

B

Total Utility: Decrease∣Marginal Utility: Increase\text{Total Utility: Decrease} \quad | \quad \text{Marginal Utility: Increase}Total Utility: Decrease∣Marginal Utility: Increase

C

Total Utility: Increase∣Marginal Utility: Decrease\text{Total Utility: Increase} \quad | \quad \text{Marginal Utility: Decrease}Total Utility: Increase∣Marginal Utility: Decrease

D

Total Utility: Increase∣Marginal Utility: Increase\text{Total Utility: Increase} \quad | \quad \text{Marginal Utility: Increase}Total Utility: Increase∣Marginal Utility: Increase

Markscheme

1.2 Individual economic decision making (A-level only) Questions

  1. A Level
  2. /Economics
  3. /1.2 Individual economic decision making (A-level only)

45 exam-style questions on AQA A Level Economics 1.2 Individual economic decision making (A-level only), covering 1.2.1 Consumer behaviour, 1.2.2 Imperfect information, 1.2.3 Aspects of behavioural economic theory, and 1.2.4 Behavioural economics and economic policy. Each one has a worked solution and a mark scheme showing where the marks go.

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