Suppose That Janis Is Maximizing Her Total Utility from Chairs

question 140

Multiple Choice

Suppose that Janis is maximizing her total utility from chairs and tables.If the marginal utility of the last table she purchased is 200 utils,and the prices of chairs and tables are $50 and $100,respectively,then the marginal utility of the last chair she purchased

• A)is 100 utils
• B)is 400 utils
• C)is 200 utils
• D)is 50 utils
• E)cannot be determined without more information

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Definitions:

Cults

Groups that often exhibit extreme or unorthodox beliefs and practices, usually led by charismatic leaders.

Collective Conscience

A collection of common values, thoughts, and ethical stances that act as a cohesive influence within a community.

Durkheim

A French sociologist, social psychologist, and philosopher who is considered one of the founding fathers of sociology.

Marx

Karl Marx was a 19th-century philosopher, economist, and revolutionary, best known for his works on capitalism and communism as well as for founding Marxist theory.