If a consumer receives 22 units of marginal utility for consuming the first can of soda, 20 units from consuming the second, and 15 from the third, the total utility of consuming the three units is
A) 57 utility units.
B) 35 utility units.
C) 15 utility units.
D) unknown as more information is needed to determine the answer.
Correct Answer:
Verified
Q6: If your total satisfaction increases when you
Q9: Consumers maximize total utility within their budget
Q10: Total utility
A)cannot decrease as a person consumes
Q11: Consumers have to make tradeoffs in deciding
Q12: If a consumer always buys goods rationally,
Q13: An item has utility for a consumer
Q16: Utility is
A)easily measured in units called utils.
B)subjective
Q18: If, as a person consumes more and
Q19: Which of the following is likely to
Q20: The law of diminishing marginal utility states
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