Refer to the Information Provided in Table 6 -Refer to Table 6

question 156

Multiple Choice

Refer to the information provided in Table 6.1 below to answer the question(s) that follow.
Table 6.1
$$\begin{array} { | c | c | c | } \hline \begin{array} { c } \text { Number of } \\\text { Hamburgers per } \\\text { Day }\end{array} & \text { Total Utility } & \text { Marginal Utility } \\\hline 1 & 30 & \\\hline 2 & 52 & \\\hline 3 & 67 & \\\hline 4 & 76 & \\\hline 5 & & 4 \\\hline \begin{array} { c } \text { Number of } \\\text { Sodas per Day }\end{array} & \text { Total Utility } & \text { Marginal Utility } \\\hline 1 & 20 & \\\hline 2 & 35 & \\\hline 3 & 47 & \\\hline 4 & 57 & \\\hline 5 & & 7 \\\hline\end{array}$$
-Refer to Table 6.1. Diminishing marginal utility sets in after the ________ soda per day.

• A) first
• B) second
• C) third
• D) fourth

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Definitions:

Total Revenue

The total amount of money received by a company from the sale of goods or services before any expenses are deducted.

Real Wages

The purchasing power of wages, adjusted for inflation, indicating the quantity of goods and services that can be bought.

Capital Equipment

Long-term assets used in the production of goods and services, such as machinery, buildings, and vehicles.

Industrially Advanced Economies

Countries characterized by high levels of industrialization, sophisticated infrastructure, and substantial Gross Domestic Product (GDP) per capita.