Refer to the Accompanying Table A)less Than 100

question 49

Multiple Choice

Refer to the accompanying table. The total utility of consuming two dinners out per week 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)less than 100.
• B)75.
• C)175.
• D)160.

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Definitions:

Opportunity Costs

The loss of potential gain from other alternatives when one particular option is chosen over others.

Predatory Dumping

A practice where a company exports a product at a price significantly lower than its normal value, with the intention to drive out competition in the import country.

Sporadic Dumping

Occurs when a company exports a product at a price significantly lower than the price in its domestic market, but does so irregularly or occasionally.

Rent Seeking

The practice of gaining wealth without creating new wealth or value, often through manipulation of the social or political environment.