Table 9-4 Rob Crusoe and Bill Friday Spent Their Week-Long

question 317

Multiple Choice

Table 9-4
Rob Crusoe and Bill Friday spent their week-long vacation on a desert island where they had to find and prepare their own food. Rob and Bill spent one day each fishing and picking berries. The table lists the pounds of output Rob and Bill produced.
-Refer to Table 9-4. Use the table above to select the statement that accurately interprets the data in the table.

• A) Bill has a greater opportunity cost than Rob for picking berries.
• B) Bill's opportunity cost for catching fish is less than Rob's.
• C) Rob has a greater opportunity cost than Bill for picking berries.
• D) Bill's opportunity cost for picking berries and catching fish are both greater than Rob's.

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Definitions:

Total Utility

The cumulative satisfaction or usefulness that a person gains from consuming all units of a particular good or service.

Marginal Utility

The supplementary enjoyment or value obtained by consuming an extra unit of a good or service.

Total Utility

The overall satisfaction or happiness a consumer derives from consuming a certain quantity of goods and services.

Marginal Utility

The extra benefit or utility gained from acquiring or consuming an additional unit of a product or service.