Diminishing marginal utility means that
A) Ralph will enjoy his second hamburger less than the first one.
B) the utility from one hamburger is greater than the utility from two hamburgers.
C) the price of two hamburgers is less than twice the price of one.
D) the utility from eating two hamburgers will be more than twice the utility from eating the first one.
E) hamburgers seem smaller as you eat more of them.
Correct Answer:
Verified
Q1: According to the principle of diminishing marginal
Q2: Total utility is always
A)greater than marginal utility.
B)less
Q3: The budget line
A)shows the limits to a
Q5: The fact that your fourth slice of
Q6: The first can of Coke gives 15
Q7: Use the table below to answer the
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
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