Question : 21) Diminishing marginal utility means that A) marginal utility decreases as : 1226093

 

 

21) Diminishing marginal utility means that

A) marginal utility decreases as consumption decreases.

B) marginal utility increases as consumption increases.

C) marginal utility decreases as consumption increases.

D) total utility decreases as marginal utility decreases.

E) total utility decreases as marginal utility increases.

22) Brenda’s marginal utility per dollar from the second hamburger is 20. Her marginal utility from the third hamburger would be

A) less than 20.

B) more than 20.

C) equal to 20.

D) not comparable to the marginal utility per dollar from the second hamburger.

E) some amount, but we need more information to determine how it compares to 20.

 

23) Total utility ________ as a person consumes more of one good and marginal utility ________.

A) increases; increases

B) increases; decreases

C) remains constant; decreases

D) fluctuates; decreases

E) decreases; increases

 

24) Diminishing marginal utility means that an increase in the consumption of a good leads to

A) a decrease in total utility.

B) a decrease in marginal utility.

C) a decrease in the fall of the price of the good.

D) a decrease in the consumer’s budget.

E) an increase in the consumer’s budget.

 

25) Kevin likes weasel leg stew. But every bite of the stew that he eats provides him with less and less total utility. This fact means that Kevin’s marginal utility is

A) decreasing.

B) increasing, but at a decreasing rate.

C) increasing at an increasing rate.

D) not changing.

E) changing but the rate of change is not certain without more information.

 

 

 

26) The table above shows Buffy’s utility from wooden stakes and cloves of garlic. The total utility Buffy gets from 5 wooden stakes is

A) 7.

B) 65.

C) 222.

D) 122.

E) None of the above answers is correct.

 

27) The table above shows Buffy’s utility from wooden stakes and cloves of garlic. If Buffy increases her consumption of wooden stakes from 4 to 5 stakes, her marginal utility from the 5th stake is

A) 65.

B) 7.

C) 58.

D) 7 ÷ 5 = 1.29.

E) None of the above answers is correct.

 

28) The table above shows Buffy’s utility from wooden stakes and cloves of garlic. The marginal utility of which clove of garlic is the largest?

A) the first clove

B) the second clove

C) the fifth clove

D) the third clove

E) The marginal utility of all cloves is the same.

29) The table above shows Buffy’s utility from wooden stakes and cloves of garlic. As Buffy uses more stakes, the marginal utility of a stake ________ and as she uses more cloves of garlic, the marginal utility of a clove of garlic ________.

A) increases; increases

B) increases; decreases

C) decreases; increases

D) decreases; decreases

E) does not change; does not change

 

 

 

 

30) The table above gives Matt’s utility from consuming slices of pizza. His marginal utility from the 3rd slice is

A) 27 units.

B) 5 units.

C) 9 units.

D) 11 units.

E) None of the above answers is correct.

 

31) The table above gives Matt’s utility from consuming slices of pizza. His marginal utility from the 4th slice is

A) 30 units.

B) 3 units.

C) 94 units.

D) 23.5 units.

E) 7.5 units.