Refer to the accompanying table. The marginal utility of the 4th dinner out per week is: Number of DinnersOut Per WeekTotal UtilityMarginal Utility1100 2 753235 4250
A. 250.
B. 75.
C. 60.
D. 15.
Answer: D
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Exhibit 15-8 Aggregate demand and supply curves
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In Exhibit 15-8, supply-siders claimed that the shift from AS1 to AS2 would occur if the government:
A. increased tax rates and increased the amount of government regulation. B. increased tax rates and decreased the amount of government regulation. C. decreased tax rates and increased the amount of government regulation. D. decreased tax rates and decreased the amount of government regulation.
The government budget constraint implies that
A. government borrowings = government spending+ transfers - taxes and user charges. B. government spending = government borrowing - transfers - taxes and user charges C. government spending = transfers - taxes and user charges - government borrowing. D. government borrowings = taxes and user charges + government spending - transfers
According to the above table, the marginal factor cost of the eighth worker is
A. $168.00. B. $27.00. C. $48.00. D. $216.00.
At the Larson Bakery the marginal products of the first, second, and third sales clerks are 30, 27, and 21 customers served, respectively. The total product (number of customers served) of the three sales clerks is
A. 30. B. 57. C. 78. D. 109.