Basil Is Maximizing His Utility from Consuming Tea and Crumpets

question 142

Multiple Choice

Basil is maximizing his utility from consuming tea and crumpets.If the marginal utility of the last crumpet was 32 units of utility and the prices of tea and crumpets are $4 and $8, respectively, what was the marginal utility of the last cup of tea Basil consumed?

• A)2 units of utility
• B)12 units of utility
• C)$6
• D)128 units of utility
• E)16 units of utility

Understand the application of Piaget's cognitive-developmental theory to real-world observations.

Recognize the distinctions between qualitative and quantitative changes in cognitive development.

Identify the key concepts and unique contributions of Piaget's theory to developmental psychology.

Understand the impact of environmental limits on population growth rates.

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Definitions:

Pros and Cons

A list or discussion of the advantages (pros) and disadvantages (cons) of a particular decision or course of action.

Positive Emphasis

Focusing on positive aspects or optimistic views in communication to influence perception or behavior.

Unethical

Acting in ways that go against moral principles, often causing harm or showing a lack of integrity.

Positive Effect

An outcome or result that is beneficial or favorable.