If a Consumer Receives 20 Units of Utility from Consuming

question 297

Multiple Choice

If a consumer receives 20 units of utility from consuming two candy bars, and 25 units of utility from consuming three candy bars, the marginal utility of the third candy bar is

• A)25 utils.
• B)20 utils.
• C)5 utils.
• D)unknown as more information is needed to determine the answer.

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Definitions:

Planning Stage

The initial phase in a process where objectives are set and strategies are outlined.

Marketing Mix

A foundational marketing model comprising four key components: product, price, place, and promotion, used in developing a marketing strategy.

Situation Analysis

A systematic collection and evaluation of past and present economical, political, social, and technological data, aimed at identification of internal and external forces that may influence the organization's performance.

Strategic Marketing Process

An organized technique for planning, executing, and evaluating marketing plans aimed at meeting business targets.