"The second glass of Evian water was very good.May I have another?" Which of the following is necessarily true of this statement?
A) The marginal utility of the second glass of water was negative.
B) The marginal utility of the first glass of water was zero.
C) The marginal utility of the second glass of water was positive.
D) The water is available free of cost.
E) The marginal utility of the third glass of water will be negative.
Correct Answer:
Verified
Q17: Marginal utility is the _
A)overall satisfaction obtained
Q18: In economics,tastes and preferences refer to _
A)consumption.
B)income.
C)prices.
D)utility.
E)trends.
Q19: Total utility is the _
A)sum of all
Q20: The law of diminishing marginal utility states
Q22: Negative marginal utility implies that _
A)total utility
Q23: When would a consumer experience disutility?
A)if total
Q24: "I don't feel so good; I shouldn't
Q25: Carvel advertises a football-shaped ice cream cake
Q26: Table 6.1 Q27: The marginal utility of a second copy
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents