-Betsy's Utility Depending from Her Consumption of Coffee Is Shown

question 35

Multiple Choice

-Betsy's utility depending from her consumption of coffee is shown in the table above. If the price of a cup of coffee is $2, Betsy's marginal utility per dollar from the 2nd cup of coffee per day is

• A) 15.
• B) 40.
• C) 20.
• D) 32.5.

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Definitions:

Percentage

A fraction or ratio expressed as a part of 100, used to denote a proportion of a whole.

Average Canadian Household

A statistical measure reflecting the typical living arrangement and economic situation of households in Canada.

Marketing Department

The marketing department is a division within a company that focuses on strategies to promote, sell and distribute its products or services.

Actual Spending

The actual amount of money spent over a specific period, as opposed to budgeted or planned spending.