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

question 31

Multiple Choice

Refer to the information provided in Table 6.3 below to answer the question(s) that follow.
Table 6.3
$$\begin{array} { | c | c | c | } \hline \begin{array} { c } \text { Dozens of Oysters } \\\text { per Day }\end{array} & \text { Total Utility } & \text { Marginal Utility } \\\hline 1 & 60 & \\\hline 2 & 104 & \\\hline 3 & 134 & \\\hline 4 & 152 & 8 \\\hline 5 & & \\\hline \begin{array} { c } \text { Number of } \\\text { Beersper Day }\end{array} & \text { Total Utility } & \text { Marginal Utility } \\\hline 1 & 40 & \\\hline 2 & 70 & \\\hline 3 & 94 & \\\hline 4 & 114 & \\\hline 5 & & 14 \\\hline\end{array}$$
-Refer to Table 6.3. The total utility of five beers per day is

• A) 70.
• B) 128.
• C) 184.
• D) indeterminate from this information.

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Definitions:

Strike Price

The predetermined price at which the holder of an option can buy or sell the underlying asset.

Call Option

A financial contract giving the buyer the right, but not the obligation, to buy an asset at a specified price within a specified time.

Capital Gain

The profit from the sale of a capital asset for more than its purchase price.

Strike Price

The fixed price at which the holder of an option can buy (call option) or sell (put option) the underlying security or commodity.