Refer to the Accompanying Table A)60
B)75

question 103

Multiple Choice

Refer to the accompanying table. The marginal utility of the 3?? dinner is: $\begin{array}{|c|c|c|}\begin{array}{c}\text { Number of Dinners } \\\text { Out Per Week }\end{array} & \text { Total Utility } & \text { Marginal Utility } \\\hline 1 & 100 \\\hline 2 & & 75\\\hline 3 & 235 & \\\hline 4 & 250 & \\\hline\end{array}$

• A)60.
• B)75.
• C)135.
• D)160.

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Definitions:

Tax Revenues

Tax revenues are the income that governments collect from individuals, corporations, sales, and other sources, used to fund public services and operations.

Tax Increases

Government actions that raise the amount of taxes levied on individuals, businesses, or transactions, affecting income, purchasing power, and investment.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicating the sensitivity of consumers to price changes.

Economic Well-being

The state in which individuals or societies can satisfy their needs and desires, often measured by income, employment, and access to resources.