Use the Following to Answer Questions -(Table: the Utility of Macaroni and Cheese)Use Table: the Utility

question 99

Multiple Choice

Use the following to answer questions : $$\begin{array}{l}\hline \text { Table: The Utility of Macaroni and Cheese }\\\begin{array} { l r r r r r r r r } \hline \text { Number of servings } & 0 & 1 & 2 & 3 & 4 & 5 & 6 & 7 \\\text { Total utility } & 0 & 10 & 25 & 35 & 60 & 60 & 35 & 25 \\\hline\end{array}\end{array}$$
-(Table: The Utility of Macaroni and Cheese) Use Table: The Utility of Macaroni and Cheese.Carmen loves eating macaroni and cheese on Thanksgiving.Carmen's total utility is maximized after she eats the _____ serving.

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

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Definitions:

Equitable

Characterized by fairness and impartiality; the fair distribution of resources and opportunities.

Efficient

Describes a process that achieves its goals with the least waste of time and effort.

Lump-Sum Tax

A tax that is the same amount for every person.

Deadweight Loss

A cost to society created by market inefficiency, which occurs when supply and demand are out of equilibrium.