Erika's Utility with $3,000 of Wealth Is 6,000 and Her

question 12

Multiple Choice

Erika's utility with $3,000 of wealth is 6,000 and her utility with $3,001 of wealth is 6,005. Her marginal utility from gaining the additional $1 of wealth is

• A) 6,005.
• B) 3,001.
• C) 6,000.
• D) 5.

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Definitions:

Calorie Counts

The total number of calories in food, important for dietary planning and nutritional information.

Consumption Behavior

The patterns and habits that consumers exhibit in purchasing and using goods and services.

High-calorie Items

Foods or beverages that are densely packed with calories, often with high levels of fat or sugar.

Marginal Utility

The additional satisfaction or benefit (utility) a consumer receives from consuming one additional unit of a good or service.