Refer to the information provided in Figure 6.8 below to answer the questions that follow. C) 25. D) 40. Total utility 28 25 Question #31: Refer to Figure 6.8. The_ A) first B) second C) third D) fourth 15 Question # 29: Refer to Figure 6.8. The marginal utility of the second movie rental is A) 10. B) 12.5. 12 3 4 Number of movies rented per month Question #30: Refer to Figure 6.8. The marginal utility of the third movie rental is A) 1. B) 3. C) 9.33. D) 28. movie rental has a marginal utility of zero. Question # 32: The law of diminishing marginal utility is effective when marginal utility is A) positive and increasing B) positive and decreasing C) initially zero and then increasing D) initially zero and then decreasing

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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Refer to the information provided in Figure 6.8 below to answer the questions that follow.
Total utility
28
25
Question #31: Refer to Figure 6.8. The
A) first
B) second
C) third
D) fourth
15
0
1 2
3 4
Number of movies rented per month
Question # 29: Refer to Figure 6.8. The marginal utility of the second movie rental is
A) 10.
B) 12.5.
C) 25.
D) 40.
Question # 30: Refer to Figure 6.8. The marginal utility of the third movie rental is
A) 1.
B) 3.
C) 9.33.
D) 28.
movie rental has a marginal utility of zero.
Question # 32: The law of diminishing marginal utility is effective when marginal utility is
A) positive and increasing
B) positive and decreasing
C) initially zero and then increasing
D) initially zero and then decreasing
Transcribed Image Text:Refer to the information provided in Figure 6.8 below to answer the questions that follow. Total utility 28 25 Question #31: Refer to Figure 6.8. The A) first B) second C) third D) fourth 15 0 1 2 3 4 Number of movies rented per month Question # 29: Refer to Figure 6.8. The marginal utility of the second movie rental is A) 10. B) 12.5. C) 25. D) 40. Question # 30: Refer to Figure 6.8. The marginal utility of the third movie rental is A) 1. B) 3. C) 9.33. D) 28. movie rental has a marginal utility of zero. Question # 32: The law of diminishing marginal utility is effective when marginal utility is A) positive and increasing B) positive and decreasing C) initially zero and then increasing D) initially zero and then decreasing
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