If the marginal utility of the third cup of coffee is 23 and the marginal utility of the fourth cup is 15,then
A) it is optimal for the consumer to have three cups of coffee.
B) the price of a cup of coffee must be relatively low.
C) it is optimal for the consumer to have four cups of coffee.
D) the law of diminishing marginal utility is evident.
E) the price of a cup of coffee must be relatively high.
Correct Answer:
Verified
Q25: Q26: For most goods,as the number of units Q27: Which of the following statements about total Q28: Given that Chris' marginal utility from his Q29: The total utility to a person from Q31: Marginal utility is defined as the Q32: Brian gets 18,23,and 25 units worth of
A) extra
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