Refer to the Accompanying Table to Answer the Questions

question 79

Multiple Choice

Refer to the accompanying table to answer the questions. $\begin{array}{cc}&\text { Total Utility (Utils }\\\text { Sodas Consumed }&\text { per Soda) }\\0 & 0 \\1 & 35 \\2 & 60 \\3 & 80 \\4 & 90 \\5 & 90 \\6 & 75 \\7 & 50 \\8 & 20\end{array}$
-The marginal utility of the third unit is:

• A) 60 utils.
• B) 80 utils.
• C) 90 utils.
• D) 20 utils.
• E) 10 utils.

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Definitions:

Price Of Labor

The wage rate or salary that employers pay to employees in exchange for their work.

Isocost

A line that represents all the combinations of inputs that have the same total cost.

Price Of Labor

The compensation (wages, salaries, and benefits) paid to employees for their work or services.

Isocost

A line representing all combinations of a firm’s inputs that have the same total cost.