Multiple Choice
-Refer to the table above.Which of the following statements is NOT consistent with the data for music CDs?
A) Total utility increases with each additional CD.
B) Marginal utility decreases with each additional CD.
C) The first CD provides the largest increase in utility.
D) The law of diminishing marginal utility is evident for CDs.
E) The marginal utility of the fifth CD is greater than 15.
Correct Answer:
Verified
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