The Following Schedule Shows the Utility Mr

question 54

Multiple Choice

The following schedule shows the utility Mr. Pomeroy derives from consumption of various amounts of food per day. Use it to answer the next question.

-If he consumes 2 pounds of food per day,his marginal utility is

• A) 2.
• B) 3.
• C) 4.
• D) 5.
• E) 9.

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Definitions:

Trust Receipt

A document issued by a bank to a buyer who has received merchandise but not yet paid for it, acknowledging that the buyer holds the goods in trust for the bank until payment is made.

Revolving-Credit Agreement

A financial agreement permitting a business or person to lend, pay back, and re-lend funds up to an approved borrowing limit.

Commitment Fee

A fee paid by a borrower to a lender to keep a line of credit open or to guarantee a loan's terms.

Contractual Agreement

A contractual agreement is a legally binding exchange of promises or an agreement between parties that is enforceable by law.