Examlex

Solved

Assume That the Total Utilities for the Fifth and Sixth

question 206

Multiple Choice

Assume that the total utilities for the fifth and sixth units of a good consumed are 83 and 97, respectively.The marginal utility for the sixth unit is:


Definitions:

Creativity

The ability to produce original and valuable ideas or objects; involves thinking or approaching problems in novel ways.

Novel Ideas

New, original, and unique concepts or thoughts that have not been previously considered.

Socially Valued

Regarded with respect and worth by society, often because of contributing positively to communal goals or standards.

IQ Tests

Standardized tests designed to measure human intelligence and cognitive abilities in relation to an average population.

Related Questions