The diagram illustrates the total utility of a good for an individual consumer. Marginal utility provides a guide to the price that a consumer is prepared to pay. What can be concluded about the price a consumer is prepared to pay per unit?
- AThe price a consumer is willing to pay will be higher at Q0 than Q1.
- BThe price a consumer is willing to pay will be higher at Q3 than Q0.
- CThe price a consumer is willing to pay will be highest at Q2.
- DThe price a consumer is willing to pay will be the same at Q1 and Q3.