Nick Took the Train from Class to His Interview

question 19

Multiple Choice

Nick took the train from class to his interview.He arrived 15 minutes early, carrying coat, his backpack, pens, a pad, his portfolio and a folder with extra copies of his resume.What should he bring into the interview?

• A)Everything because he should not inconvenience the receptionists by asking them to watch his belongings.
• B)Everything because someone could steal anything he left in an outside office.
• C)Only the pen, pad and the folder with extra copies of his resume because it looks cleaner.
• D)His backpack with all this belongings because that is the most efficient way to carry them.

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Definitions:

Total Utility

The total satisfaction or benefit derived from consuming a particular quantity of goods or services.

Law of Diminishing Marginal Utility

An economic principle that states the additional satisfaction a consumer gets from purchasing one more unit of a product will lessen with each additional unit purchased.

Marginal Utility

The additional satisfaction or utility that a consumer derives from consuming one more unit of a good or service.

Total Utility

The total satisfaction or benefit a consumer receives from consuming a specific quantity of goods or services.