If the Marginal Utility of Consuming One Pound of Apples

question 48

Multiple Choice

If the marginal utility of consuming one pound of apples is 200 units for John and 50 units for Jane, we can conclude

• A)that John will eat four times more apples than Jane.
• B)that John will eat the same amount of apples as Jane.
• C)that John will eat four times fewer apples than Jane.
• D)that John and Jane will not eat any apples.
• E)nothing about how many apples John will eat compared to Jane.

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Definitions:

Mutual Mistake

An error shared by all parties in a contract, which can render the agreement voidable if it significantly affects the contract's basis.

Uniform Commercial Code

A comprehensive set of laws governing all commercial transactions in the United States, intended to harmonize law among the states.

Federal Law

Legislation enacted by the national government of a country, which applies to all its constituents.

Civil Law System

A legal system originating in Europe, characterized by its reliance on written codes and statutes as the primary source of law rather than legal precedents.