The Table Given Below Depicts the Total Utility Derived from the Consumption

question 50

Multiple Choice

The table given below depicts the total utility derived from the consumption of a good. Table 6.1

-If one were to plot the data from Table 6.1 (with utility on the vertical axis and quantity of the good on the horizontal axis) :

• A)the total utility curve would begin to decline after the second unit of the good.
• B)the marginal utility curve would begin to decline after the third unit of the good.
• C)the marginal utility curve would intersect the horizontal axis at the third unit of the good.
• D)the marginal utility curve would intersect the horizontal axis at the second unit of the good.
• E)the total utility curve would rise from the first unit to the fifth unit.

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Definitions:

Accounts Receivable

Money owed to a business by its clients or customers for goods or services delivered or used but not yet paid for.

Accrued Interest

The interest that has been earned but not yet paid, accumulating on loans, bonds, or any other financial instruments over a period of time.

Notes Receivable

Financial assets representing amounts owed to a company by debtors, typically evidenced by formal instruments with specified payment terms.

Factoring Fee

A charge assessed for the service of factoring, where a business sells its receivables to a third party at a discount.