-Kelly's Marginal Utilities for Magazines and Packages of Gummy Bears

question 266

Multiple Choice

-Kelly's marginal utilities for magazines and packages of gummy bears are listed in the table above. What is the extra utility received by Kelly when she decides to consume 3 packages of gummy bears instead of 2 packages?

• A) 20
• B) 160
• C) 180
• D) 540

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Definitions:

Wage Expense

The total cost incurred by a company for the salaries and wages of its employees.

Withdrawals

Sums of money withdrawn by the business owner(s) for private expenses.

General Journal

A basic accounting record used to keep track of all business transactions not recorded in specialized journals.

Account Titles & Descriptions

Names and explanations assigned to individual accounts in the financial statements, reflecting the nature and type of transaction.