If the Marginal Utility of the Third Cup of Coffee

question 122

Multiple Choice

If the marginal utility of the third cup of coffee is 23 and the marginal utility of the fourth cup is 15,then

• A) it is optimal for the consumer to have three cups of coffee.
• B) the price of a cup of coffee must be relatively low.
• C) it is optimal for the consumer to have four cups of coffee.
• D) the law of diminishing marginal utility is evident.
• E) the price of a cup of coffee must be relatively high.

Recognize the impact of capacity decisions on manufacturing and service organizations.

Understand the complexities of standardization on a global scale and the concept of mass customization.

Understand the interaction between nature and nurture in development.

Identify and compare different theories and theorists in developmental psychology.

---

Definitions:

Déjà Vu

The eerie and often unsettling feeling of having previously experienced a situation or moment that is currently happening.

Subliminally Flashed

Pertains to stimuli presented below the threshold of conscious perception, often used in psychological experiments to explore the unconscious mind.

Memory Distortion

the alteration or incorrect recall of memories, often influenced by subsequent information, experiences, or the passage of time.

False Memories

This involves the recall of events that did not actually happen, often influenced by suggestion or the merging of actual memories with misinformation.