The Total Utility You Get from Eating Slices of Pizza

question 351

Multiple Choice

The total utility you get from eating slices of pizza on a given night is the

• A) marginal utility of the last slice times the total number of slices eaten.
• B) sum of the differences in marginal utility as you increase the number of slices eaten.
• C) sum of the marginal utilities of all slices eaten.
• D) sum of the marginal utilities per dollar spent on all slices eaten.

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Definitions:

Current Assets

Assets that are expected to be converted into cash, sold, or consumed within one year or within the business’ normal operating cycle, whichever is longer.

Current Liabilities

Obligations that are due for payment within the next operating cycle or year, including accounts payable and short-term loans.

Warranty Repairs

Services offered for free or at a reduced cost to fix defects in products covered under a warranty period.

Product Warranty Expense

Costs that a company incurs for repairing, replacing, or servicing products under warranty.