If the Marginal Utility of the 3^rd Cup of Coffee

question 110

Multiple Choice

If the marginal utility of the 3^rd cup of coffee is 23 and the marginal utility of the 4^th cup is 15, then:

• A)it is optimal for the consumer to have 3 cups of coffee.
• B)the price of a cup of coffee must be relatively low.
• C)it is optimal for the consumer to have 4 cups of coffee.
• D)there is evidence of diminishing marginal utility.

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Definitions:

Minutes

The official written record of the discussions and decisions made during a meeting.

Explicit Way

A clear and direct approach, leaving no room for misunderstanding or ambiguity.

Agenda

a list or program of items to be discussed, accomplished, or presented during a meeting or event.

Minutes

The official written record of the proceedings of a meeting.