What Is the Marginal Utility of the Fourth Can of Soda

question 96

Multiple Choice

What is the marginal utility of the fourth can of soda? $\begin{array}{c}\begin{array}{|c|} \hline \text {Cans of Soda}\\\hline1\\\hline2\\\hline3\\\hline4\\\hline5\\\hline \end{array}\begin{array}{c|} \hline \text {Total utility}\\ \hline14\\ \hline\\ \hline36\\ \hline44\\ \hline\\ \hline \end{array}\begin{array}{c|} \hline \text {Marginal utility}\\ \hline\\ \hline12\\ \hline\\ \hline\\ \hline6\\ \hline\end{array}\end{array}$

• A) 44 units of utility
• B) 10 units of utility
• C) 8 units of utility
• D) 2 units of utility

Critically assess the implications of a perfectly competitive market on consumer knowledge and budget constraints.

Understand how budget constraints are affected by changes in income and prices.

Comprehend the concept of marginal utility and how it varies with consumption.

Identify the impact of price changes on a household's choice set.

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Definitions:

N3

N3, or Stage 3 NREM sleep, is the deepest stage of non-rapid eye movement sleep, characterized by delta waves and significant physiological changes in the body.

Sleep Spindles

Sudden bursts of oscillatory brain activity observed during stage 2 of sleep, believed to play a role in memory consolidation and learning.

REM

Rapid Eye Movement, a phase of sleep characterized by quick movements of the eyes, increased respiration rate, and vivid dreams.

N2

A component of the Event-Related Potential (ERP) that is associated with cognitive control and the detection of novelty.