Figure 21-4 This Figure Shows a Consumer's Choice Between Popcorn and Juice

question 98

Multiple Choice

Figure 21-4
This figure shows a consumer's choice between popcorn and juice.

-Refer to Figure 21-4.What position is a person who chooses to consume bundle C likely to end up in

• A)He will receive higher total utility than at point A.
• B)He will gain more satisfaction from bundle C than bundle A.
• C)He will receive higher marginal utility from popcorn than from juice.
• D)He will receive higher marginal utility from juice than from popcorn.

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Definitions:

Pools

Agreements between companies to maintain prices at a certain level by controlling supply, a form of collusion often illegal in the U.S.

Market Forces

The economic factors affecting the price, demand, and supply of goods and services in a free market.

Railroads

Transportation networks consisting of tracks, trains, and stations used for the movement of goods and passengers, significantly contributing to economic development and expansion.

Second Industrial Revolution

A phase of rapid industrialization in the final third of the 19th century and the beginning of the 20th century, marked by significant advances in technology and production methods, including the spread of the steel industry and mass production.