Suppose you go to a wedding reception that has free drinks.What is likely to be the marginal utility of the last drink you had?
A) infinite
B) 0
C) 1
D) less than 0
E) greater than 1
Correct Answer:
Verified
Q60: Exhibit 6-5 Q61: Suppose that for Jason the marginal utility Q62: As a consumer allocates income between good Q63: If Ellie Mae spends her income on Q64: A utility-maximizing consumer equalizes marginal utilities across Q66: Assume that you allocate your income to Q67: If Dalene's marginal benefit from consuming another Q68: In terms of utility theory, "equilibrium" in Q69: Consumers must understand the law of diminishing Q70: As long as scarcity exists,
A)product prices play
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