Refer to the above table. The marginal utility of the 6th movie for Michael is
A. 40 units of utility.
B. 30 units of utility.
C. 35 units of utility.
D. 25 units of utility.
Answer: B
You might also like to view...
Use the following table to answer the next question. The base year is 2007. YearHot DogsBaseballsBottles of Beer?PriceQuantityPriceQuantityPriceQuantity2005$2.50100$2.5050$1.0010020064.001005.001002.0015020075.001005.001002.0020020088.001508.002004.00200200910.0020010.002004.00250Calculate the percentage change in prices from 2007 to 2009.
A. 175% B. 200% C. 150% D. 100%
Which of the following is generally NOT an example of a zero price?
A. Getting a refill of coffee at a restaurant B. Downloading another MP3 from iTunes C. Watching another movie on Netflix D. Sending another text message
The production possibilities curve tells us:
A. the specific combination of two products that is most desired by society. B. that costs do not change as society varies its output. C. that costs are irrelevant in a society that has fixed resources. D. the combinations of two goods that can be produced with society's available resources.
The smaller is the absolute price elasticity of demand, the
A) smaller is the responsiveness of quantity demanded to the price change. B) larger is the responsiveness to a price change. C) larger is the income of the buyer. D) higher is the change in demand to an income change.