Question

You go to an all-you-can-eat buffet. Once you pay the price to enter the buffet, you can fill your plate as much as you want at no additional cost. If you maximize utility, the marginal utility of the last bite that you eat will be _______

Answer 1

Zero

Step-by-step explanation:

Marginal utility refers to the extra satisfaction derived, which is expressed in utils, when an additional unit of a commodity is consumed.

Total utility reaches it's maximum point when marginal utility is zero. As total utility begins to fall, the marginal utility becomes negative.

Alfred Marshall cited the law of diminishing marginal utility, which states, as more and more units of a commodity are consumed, the successive utility derived must fall.

In the given case, if utility is maximized, the marginal utility derived from the last bite eaten would be zero.