Assume That the Total Utilities Corresponding to the First Five

question 136

Multiple Choice

Assume that the total utilities corresponding to the first five units of a product consumed are 14, 20, 25, 29, and 32, respectively.The marginal utility of the third unit is:

• A) 5.
• B) 6.
• C) 20.
• D) 25.

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Definitions:

Long-Term Retention

The ability to hold onto information or skills for extended periods, often many years.

Working Memory

An intellectual mechanism with finite space, dedicated to briefly storing data for further manipulation.

Echoic Memory

A subtype of sensory memory that retains auditory information for a short period after the original sound is heard.

Fleeting Memory

A brief or rapidly fading memory, often unable to be recalled after a short period of time.