If a Consumer Obtains 20 Units of Utility for the First

question 76

Multiple Choice

If a consumer obtains 20 units of utility for the first unit consumed,10 for the second,and 5 for the third,what is the total utility of consuming three units?

• A) 20 units
• B) 30 units
• C) 35 units
• D) 5 units
• E) None of the above answers is correct.

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Definitions:

Cognitive Algebra

The mental process of combining various pieces of information to form judgments or make decisions.

Weighted Averaging

A mathematical technique where each component of an average has a corresponding weight that reflects its importance or frequency.

Final Impression

The lasting opinion or feeling one has about something or someone after all information or experiences are considered.

Cognitive Representations

Mental models or representations of the world, including beliefs, perceptions, and memories.