Need
help please! ASP
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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.
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