If Two Units of a Good Provide 7 Utils and the Marginal

question 38

Multiple Choice

If two units of a good provide 7 utils and the marginal utility of the third unit of the good is 2 utils, what is the total utility from consuming three units of the good?

• A) 3 utils
• B) 7 utils
• C) 9 utils
• D) 10 utils

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Definitions:

Stockholders' Equity

Represents the ownership interest of shareholders in a corporation, calculated as total assets minus total liabilities. Also known as shareholder's equity or owner's equity.

Redemption Value

Redemption value is the amount payable to a security holder upon its maturity or the amount to redeem a bond before its maturity.

Dividends in Arrears

Unpaid dividends on cumulative preferred stock that must be paid out before any dividends can be issued on common stock.

Dividends in Arrears

Dividends on preferred stock that have not been paid in the scheduled time but are still owed to shareholders.