Assuming That the Marginal Utility of the First Four Pieces

question 32

Multiple Choice

Assuming that the marginal utility of the first four pieces of candy was 30, 28, 22, and 20 respectively, how much total utility was derived from eating the first three pieces of candy?

• A) 58
• B) 80
• C) 22
• D) 100

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Definitions:

Branding

The process of creating a unique image and identity for a product or service in the consumer's mind, using names, terms, signs, symbols, designs, or a combination of these.

Brand Personality

A set of human characteristics associated with a brand name.

Human Characteristics

Traits or features that define humans, including biological, psychological, social, and cultural attributes.

Brand Equity

The added value a brand name gives to a product beyond the functional benefits provided.