The Marginal Utility to a Person from Acquiring His Tenth

question 142

Multiple Choice

The marginal utility to a person from acquiring his tenth car is likely to be

• A) relatively large.
• B) the same as the marginal utility of his ninth car.
• C) less than the marginal utility of his ninth car.
• D) greater than the marginal utility of his ninth car.
• E) relatively small.

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Definitions:

Analytic Thought

The process of breaking down complex information into smaller components for better understanding, assessment, or decision-making.

Inductive Reasoning

An analytical method where various propositions, assumed to be true or often validated as true, are amalgamated to reach a distinct conclusion.

Intuitive Thought

A cognitive process that creates immediate understanding or knowledge without evident rational thought and inference.

Concrete Reasoning

A form of thinking that is focused on the physical and the now, dealing primarily with observable or tangible facts rather than abstract concepts.