Use the table below to answer the following question.
Table 8.1.2
-Table 8.1.2 gives total utilities for Jim and Sally.Which one of the following statements is true?
A) Jim has increasing marginal utility.
B) For Sally,the marginal utility of the third unit consumed is 6.
C) If Jim consumes 2 units,his total utility is 34 units.
D) Jim and Sally receive the same marginal utility from the third unit consumed.
E) If Sally consumes 2 units,her total utility is 10 units.
Correct Answer:
Verified
Q2: Total utility is always
A)greater than marginal utility.
B)less
Q3: The budget line
A)shows the limits to a
Q4: Diminishing marginal utility means that
A)Ralph will enjoy
Q5: The fact that your fourth slice of
Q6: The first can of Coke gives 15
Q8: Utility is
A)the value of a good.
B)the additional
Q9: The change in total utility that results
Q10: The first can of Sprite Jack drinks
Q11: A budget line is drawn with the
A)quantity
Q12: John likes to eat apples,oranges,and pears.If John
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