Bottles of Soda Slices of Pizza

question 282

Multiple Choice

Bottles of Soda Slices of Pizza

-The table above gives Ali's total utility from consuming bottles of soda and slices of pizza.The price of pizza is $2 per slice and the price of soda is $1 per bottle.His marginal utility from the 4th slice of pizza is

• A) 7.
• B) 3.50.
• C) 34.
• D) 17.50.
• E) 27.

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Definitions:

Deterministic Model

A mathematical model in which outcomes are precisely determined through known relationships among states and events, without any randomness.

Probabilistic Model

A mathematical representation of a random system that is characterized by probabilities and randomness.

Y-Intercept

The point at which a line or curve intersects the y-axis of a coordinate system.

Slope

In the context of linear regression, the magnitude of change in the dependent variable for each unit change in the independent variable.