(Table: Total Utility of Income After College Expenses) Look at the table Total Utility of Income After College Expenses.The Smith family experiences marginal utility as income
Increases.The marginal utility of income between $32,500 and $35,000 is utils per
Dollar, while it is utils per dollar between $45,000 and $47,500.
A)increasing; 0.48; 0.64
B)increasing; 0.12; 0.36
C)diminishing; 0.28; 0.08
D)diminishing; 0.40; 0.10

Question

Quizplus · Accepted Answer

The Answer of (Table: Total Utility of Income After College Expenses) Look at the table Total Utility of Income After College Expenses.The Smith family experiences marginal utility as income
Increases.The marginal utility of income between $32,500 and $35,000 is utils per
Dollar, while it is utils per dollar between $45,000 and $47,500.
A)increasing; 0.48; 0.64
B)increasing; 0.12; 0.36
C)diminishing; 0.28; 0.08
D)diminishing; 0.40; 0.10

(Table: Total Utility of Income After College Expenses) Look at the Table