Refer to the Information Provided in Table 6 -Refer to Table 6

question 138

Multiple Choice

Refer to the information provided in Table 6.2 below to answer the question(s) that follow.
Table 6.2
$$\begin{array} { | c | c | c | } \hline \begin{array} { c } \text { Number of } \\\text { Candy Bars per Day }\end{array} & \text { Total Utility } & \text { Marginal Utility } \\\hline 1 & 40 & \\\hline 2 & 75 & \\\hline 3 & 100 & \\\hline 4 & 115 & \\\hline 5 & & 5 \\\hline \begin{array} { c } \text { Number of } \\\text { Hot Dogs per Day }\end{array} & \text { Total Utility } & \text { Marginal Utility } \\\hline 1 & 30 & \\\hline 2 & 54 & \\\hline 3 & 72 & \\\hline 4 & 84 & \\\hline 5 & & 6 \\\hline\end{array}$$
-Refer to Table 6.2. Diminishing marginal utility sets in after the ________ candy bar per day.

• A) first
• B) second
• C) third
• D) fourth

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Definitions:

Business Goal

Objectives or desired outcomes that an organization aims to achieve over a specific period through its operations.

Minimize Cost

A strategy or objective aimed at reducing expenses to the lowest possible level while achieving the desired outcome.

Expected Price Level

Expected price level refers to the anticipated average cost of goods and services in the future, based on current trends and economic indicators.

Recessionary Gap

A condition in macroeconomics when an economy's real GDP is lower than its potential GDP, leading to unemployment and underutilized resources.