(Table) the Table Shows Total and Marginal Utilities of Vacation

question 187

Multiple Choice

(Table) The table shows total and marginal utilities of vacation trips taken. Based on the table, we can conclude that
$\begin{array}{|c|c|c|}\hline \text { Trips } & \text { Total Utility } & \text { Marginal Utility } \\\hline 0 & 0 & - \\\hline 1 & 5 & 5 \\\hline 2 & 9 & 4 \\\hline 3 & 11 & 2 \\\hline 4 & 12 & 1 \\\hline\end{array}$

• A) we cannot predict how many trips will be taken because we do not know income or prices.
• B) total utility is maximized when one trip is taken.
• C) the vacationer will take three trips.
• D) the vacationer will take four trips.

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Definitions:

Apologizing

Expressing regret or remorse for an action, admitting wrongdoing, and seeking forgiveness.

Corporate Culture

The shared values, beliefs, attitudes, and standards that characterize members of an organization and define its nature.

Severity

The intensity or seriousness of a situation, condition, or issue, often indicating the level of urgency or danger associated with it.

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Brought to an end or concluded, often referring to the cessation of employment or the conclusion of an agreement.