Samantha values the utility of her first cup of coffee at $1.00; a second cup, $0.75; and a third cup, $0.50 . If Samantha drinks three cups of coffee for breakfast, her marginal utility is equal to
a. $0.50, the value of her last cup of coffee.
b. $1.00, the value of her first cup of coffee.
c. $2.25.
d. $1.50.
A
You might also like to view...
Which of the following best illustrates the free-rider problem? a. A tollbooth is constructed at the entrance of a privately funded highway
b. Individuals contribute toward a national defense program by paying taxes to the government. c. Some homeowners in a mountain resort area refuse to contribute toward paving the area's only access road. d. You erect a locked gate around your swimming pool to keep out unsupervised children.
In the market for international loans, most countries, including the United States, are net borrowers
Indicate whether the statement is true or false
The desire in the U.S. for owner-occupied housing led to subsidies that contributed to the recession which started in 2007.
A. True B. False C. Uncertain
Any combination of goods that can be produced with currently available resources is an:
A. inefficient point. B. attainable point. C. attainable and efficient point. D. efficient point.