Use the following table to answer the question below

Question
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39.

Use the following table to answer the question below.

Units Consumed

Total Utility

Marginal Utility

0

0

1

W

20

2

35

X

3

Y

10

4

40

Z

The value for Z is

-5.

5.

-10.

zero.

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8.

Use the following table to answer the question below.

Number of Units

Total Utility

1

100

2

190

3

270

4

340

5

400

6

450

What is the marginal utility of the second unit?

190 utils

95 utils

90 utils

47.5 utils

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34.

Which of the following is not an assumption of the decision-making process followed by consumers to maximize utility?

The consumer behaves rationally.

The consumer is able to rank his preferences..

The consumer does not consider the prices of the products.

The consumer has a limited income.

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33.

Which of the following defines marginal utility?

the change in total utility divided by the price of a product

the maximum amount of satisfaction or happiness derived from consuming a product

the total satisfaction or happiness received from the consumption of a good, service, or combination of goods and services

the additional satisfaction or happiness received from the consumption of an additional unit of a good or service

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32.

Which of the following statements is correct?

Marginal utility is the sum of total utility.

Total utility is the sum of marginal utilities.

Total utility is the product of multiplying price times marginal utility.

Total utility is the change in marginal utility as quantity consumed increases.

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31.

The decision-making process followed by consumers to maximize utility assumes that

consumers behave rationally, attempting to maximize their satisfaction.

consumers have unlimited incomes.

consumers do not know how much marginal utility they obtain from consuming additional units of various products.

consumers are unable to rank their preferences.

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Originally posted 2017-02-18 08:03:41. Republished by Blog Post Promoter