The Below Table Shows the Average Utility (In Utils) Obtained

question 110

Multiple Choice

The below table shows the average utility (in utils) obtained from the consumption of goods A andB. Table 6.3

- Refer to Table 6.3.Marginal utility diminishes for good A from the _____ unit.

• A)6^th
• B)4^th
• C)3^rd
• D)2^nd
• E)1^nd

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Definitions:

Substitute Products

Goods or services that can be used in place of each other; when the price of one increases, demand for the substitute is likely to increase.

Electronic Textbooks

Digital versions of textbooks that can be accessed on electronic devices, offering interactive and accessible features for learning.

Prices Rise

A situation in which the cost of goods and services increases, affecting purchasing power.

Ceteris Paribus

A Latin phrase meaning "all other things being equal," used to isolate the effect of one variable in economic analysis.