Sure, here's a step-by-step guide on how to derive the marginal utility for ice cream using the Marginal Utility (MU) theory:

1. Identify the Good: In this case, the good is ice cream, which is a normal good. A normal good is a good that increases in demand when consumer income rises.

2. Define Utility: Utility is the satisfaction or benefit that a consumer receives when they consume a product. In this case, it's the satisfaction from consuming ice cream.

3. Understand Marginal Utility: Marginal Utility is the additional satisfaction a consumer gains from consuming one more unit of a good or service. It can be calculated by taking the change in total utility and dividing it by the change in the quantity of the good or service consumed.

4. Calculate Total Utility: To calculate the marginal utility, you first need to calculate the total utility. This can be done by summing up the utility gained from each unit of ice cream consumed. For example, if a consumer gets 10 units of satisfaction from one ice cream and 18 units from two ice creams, the total utility from two ice creams is 28 units.

5. Calculate Marginal Utility: Now, calculate the marginal utility. This is done by subtracting the total utility of the initial amount of ice cream from the total utility of the increased amount of ice cream, and then dividing by the change in the quantity of ice cream. For example, if the total utility from two ice creams is 28 units and from one ice cream is 10 units, the marginal utility of the second ice cream is (28-10)/1 = 18 units.

6. Interpret the Result: If the marginal utility is positive, it means that consuming more ice cream increases the consumer's satisfaction. If it's negative, consuming more ice cream decreases the consumer's satisfaction. In most cases, the marginal utility decreases as more of a good is consumed, due to the law of diminishing marginal utility.

Remember, this is a simplified example. In reality, calculating marginal utility would involve more complex mathematical models and data collection.

Question

Sure, here's a step-by-step guide on how to derive the marginal utility for ice cream using the Marginal Utility (MU) theory:

1. Identify the Good: In this case, the good is ice cream, which is a normal good. A normal good is a good that increases in demand when consumer income rises.

2. Define Utility: Utility is the satisfaction or benefit that a consumer receives when they consume a product. In this case, it's the satisfaction from consuming ice cream.

3. Understand Marginal Utility: Marginal Utility is the additional satisfaction a consumer gains from consuming one more unit of a good or service. It can be calculated by taking the change in total utility and dividing it by the change in the quantity of the good or service consumed.

4. Calculate Total Utility: To calculate the marginal utility, you first need to calculate the total utility. This can be done by summing up the utility gained from each unit of ice cream consumed. For example, if a consumer gets 10 units of satisfaction from one ice cream and 18 units from two ice creams, the total utility from two ice creams is 28 units.

5. Calculate Marginal Utility: Now, calculate the marginal utility. This is done by subtracting the total utility of the initial amount of ice cream from the total utility of the increased amount of ice cream, and then dividing by the change in the quantity of ice cream. For example, if the total utility from two ice creams is 28 units and from one ice cream is 10 units, the marginal utility of the second ice cream is (28-10)/1 = 18 units.

6. Interpret the Result: If the marginal utility is positive, it means that consuming more ice cream increases the consumer's satisfaction. If it's negative, consuming more ice cream decreases the consumer's satisfaction. In most cases, the marginal utility decreases as more of a good is consumed, due to the law of diminishing marginal utility.

Remember, this is a simplified example. In reality, calculating marginal utility would involve more complex mathematical models and data collection.

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