Kelly eats five slices of pizza on a Friday night but admits each slice of pizza doesn't taste as good as the previous one. This suggests that for Kelly
A. the marginal utility of a slice of pizza is negative.
B. the total utility of slices of pizza is increasing by larger and larger increments.
C. the total utility of slices of pizza is declining.
D. the marginal utility of a slice of pizza is positive but decreasing.
D. the marginal utility of a slice of pizza is positive but decreasing.
You might also like to view...
Lawyer Ayres and economist Levitt considered the net benefits of installing a LoJack from the society's standpoint positive, because the annual installation and service charges on this equipment was:
a. more than the average loss per stolen car. b. higher than the auto theft insurance paid by car owners c. lower than the auto theft insurance paid by car owners. d. less than the average loss per year due to deterred theft.
The main goal of antitrust policy is to
A. prevent the monopolization of industries. B. induce firms to produce at the MR = MC level. C. prevent the nationalization of industries. D. regulate natural monopolies.
The quantity of reserves held by a bank in addition to the legally required amounts is known as:
a. actual reserves. b. excess reserves. c. the required reserve ratio. d. the money multiplier. e. the monetary base.
Advertising has no effect on the demand schedule for a good
a. True b. False Indicate whether the statement is true or false