The Marginal Utility of the First Cup of Coffee That

question 179

Multiple Choice

The marginal utility of the first cup of coffee that Tom drinks in the morning is worth $2.00. The marginal utility of the 9th cup of coffee he drinks is positive while the marginal utility of the 10th cup of coffee he drinks in the morning is worth $0. This implies that at a price of $0, Tom would drink

• A) zero cups of coffee per morning.
• B) at most 10 cups of coffee per morning.
• C) more than 10 cups of coffee per morning, but the actual number is indeterminate from this information.
• D) an infinite number of cups of coffee each morning.

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Definitions:

Species Survive

The ability of a species to continue existence and avoid extinction by adapting to environmental changes or overcoming threats.

Uniformitarianism

The idea that the natural laws observable around us now are also responsible for events in the past. One part of this view, for example, is the idea that Earth has been shaped by the cumulative action of gradual processes like sediment deposition and erosion.

Natural Laws

Fundamental physical laws that govern the behavior and structure of the natural universe.

Catastrophic Events

Large-scale disasters or significant events with the potential to cause sudden and severe damage to life, property, and the environment.