Olivia Decides to Forgo a Third Slice of Pizza and Eats

question 51

Multiple Choice

Olivia decides to forgo a third slice of pizza and eats an ice cream cone instead. This behavior exemplifies the economic concept of:

• A)diminishing marginal utility.
• B)altruism.
• C)reciprocity.
• D)selfishness.

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Definitions:

Common Name

The simplified, non-scientific name of a chemical substance or organism that is generally known and used.

Compound

A substance made up of two or more different elements chemically bonded together in a fixed ratio.

Mutually Exclusive

Two events that cannot happen at the same time in a given experiment or situation.

P(A|B)

The conditional probability of event A occurring given that event B has occurred.