A)marginal utility.B)maximum utility.C)average utility.D)required utility.The marginal utility for the second unit is:A)35.B)15.C)10.D)5.The marginal utility for the sixth unit is:A)-5.B)0.C)5.D)-10.A)average utility.B)the law of diminishing returns.
A)marginal utility.B)maximum utility.C)average utility.D)required utility.The marginal utility for the second unit is:A)35.B)15.C)10.D)5.The marginal utility for the sixth unit is:A)-5.B)0.C)5.D)-10.A)average utility.B)the law of diminishing returns.C)incremental utility.D)marginal utility.Assume that the price of good X is $1 per unit and the price of good Y is $2 per unit and you consume 4 units of good X and 2 units of good Y. To maximize utility assuming that the goods are divisible you would consume:A)less of both X and Y.B)more of both X and Y.C)less of X and more of Y.D)more of X and less of Y.A)It is the average utility of good X divided by the price of good X.B)MUx/PxC)TUx/PxD)None of the above are correct.A)output effect.B)income effect.C)nominal effect.D)substitution effect.A)TrueB)FalseA)TrueB)FalseA)True