If Joey Kobayashi Experiences Diminishing Marginal Utility from Eating Hot

question 58

Multiple Choice

If Joey Kobayashi experiences diminishing marginal utility from eating hot dogs, then

• A) his total utility from eating hot dogs is negative.
• B) the marginal utility from the next hot dog Joey eats will be negative.
• C) the additional satisfaction he receives from eating another hot dog will be less than the satisfaction he received from his eating his last hot dog.
• D) Joey is maximizing the marginal utility per dollar he receives from eating hot dogs.

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Definitions:

Mindset

The established set of attitudes held by someone, influencing how they view and interact with the world.

Tasks

Specific activities or duties to be completed within a certain timeframe.

Resilient

The ability to quickly recover from difficulties; toughness.

Successful

Achieving desired aims or attaining prosperity.