If John's Marginal Utility Derived from the Consumption of Another

question 184

Multiple Choice

If John's marginal utility derived from the consumption of another candy bar is 1 and the price of the candy bar is $1.50,then

• A) this is the last candy bar John will purchase since the marginal utility is less than the price.
• B) the opportunity cost of the candy bar is less than $1.50.
• C) if John purchases and consumes the candy bar his total satisfaction will go down since the marginal utility is less than the price.
• D) there is not enough information to determine if John will or will not purchase the candy bar.

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Definitions:

Standard Form

A universally recognized method of displaying information or arguments for ease of understanding and analysis.

Implicit Propositions

Statements that are assumed within an argument but not explicitly stated.

Syllogisms

A method of logic where a conclusion is derived from two presented or assumed statements (premises), both containing a shared or middle term that is absent in the conclusion.

Implicit Propositions

Statements that are not directly expressed but are inferred from explicit statements within a discourse.