Refer to the Figure Below

question 134

Multiple Choice

Refer to the figure below. The marginal utility of the 7^th pizza is

• A)100.
• B)5.
• C)-100.
• D)-5.

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Definitions:

Price Ceiling

A legal maximum price that can be charged for a good or service, typically set by government to protect consumers.

Price Floor

A government or regulatory imposed minimum price above the equilibrium price, preventing prices from dropping too low.

Usury Laws

Regulations designed to protect consumers by capping the interest rate that lenders can charge on credit.

Loanable Funds

The supply of money that savers have made available to borrowers.