Suppose the Marginal Utilities for the First Three Cans of Soda

question 235

Multiple Choice

Suppose the marginal utilities for the first three cans of soda are 100, 80 and 60, respectively.The total utility received from consuming 2 cans is

• A)20.
• B)80.
• C)90.
• D)180.

Understand the role of melanin in determining skin color and its evolutionary background.

Acknowledge the significance of studying human variation and the historical focus of these studies.

Understand the basic concepts and calculation of variance and standard deviation for financial assets.

Comprehend the factors affecting expected returns on stocks and how they are calculated.

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Definitions:

Groupthink

A psychological phenomenon that occurs within a group of people in which the desire for harmony or conformity results in an irrational or dysfunctional decision-making outcome.

Unanimity

Complete agreement or consensus among all members or parties involved in a particular situation or decision-making process.

Failed Decisions

Decisions that do not achieve their intended outcome, leading to negative consequences or failures to meet specific goals or objectives.

Misallocation

The inefficient or inappropriate distribution or use of resources in a manner that does not maximize efficiency or value.