Asked by Haley Yasui on May 31, 2024
Verified
Freddy has eaten three corn dogs at the county fair,and if he eats another,he will get sick on the roller coaster.Knowing this,and ignoring any impact that price might have on his decision,we can say that,for the fourth corn dog,the:
A) total utility is less than zero.
B) marginal utility is less than zero.
C) total utility curve is still increasing.
D) marginal utility curve is still increasing.
Marginal Utility
An additional amount of satisfaction gained from consuming an extra unit of a good, highlighting the concept of diminishing returns.
Total Utility
The total satisfaction received from consuming a certain amount of goods or services.
Corn Dogs
A popular snack consisting of a hot dog coated in a thick layer of cornmeal batter and deep-fried.
- Gain insight into the diminishing marginal utility principle and its influence on spending habits.
- Comprehend how marginal utility influences demand for goods and services.
Verified Answer
Learning Objectives
- Gain insight into the diminishing marginal utility principle and its influence on spending habits.
- Comprehend how marginal utility influences demand for goods and services.
Related questions
The Law of Diminishing Marginal Utility Indicates That the Slope ...
The Principle of Diminishing Marginal Utility Means That,when Sarah Eats ...
Which Statement BEST Describes the Principle of Diminishing Marginal Utility ...
As You Consume More Turkey Relative to Mashed Potatoes,the _____ ...
Assuming That Diminishing Marginal Utility Applies to Both Pomegranates and ...