The Following Table Describes Utility for Consuming Cans of Soda

question 65

Multiple Choice

The following table describes utility for consuming cans of soda. Fill in the blank spaces and answer the following question: At what point does the law of diminishing marginal utility set in? $$\begin{array} { | c | c | c | } \hline \text { Cans of Sada } & \text { Total utility } & \text { Marginal utility } \\\hline 1 & 14 & \\\hline 2 & & 12 \\\hline 3 & 36 & \\\hline 4 & 44 & 6 \\\hline 5 & & \\\hline\end{array}$$

• A) Between three and four cans
• B) Between four and five cans
• C) Marginal utility diminishes everywhere.
• D) Marginal utility never diminishes.

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Definitions:

Multiple Logistic Regression

A statistical method that models the relationship between multiple independent variables and a binary dependent variable.

Dependent/Outcome Variable

The variable in an experiment or statistical model that is assumed to depend on or be caused by another variable(s).

Forty-Year-Old

An individual or subject that has reached the age of forty, often used in demographics or studies to define a particular age group.

Significant Predictor

A significant predictor in statistics is a variable in a statistical model that has a strong relationship with the outcome variable.