The price of a bag of corn chips is $3, and the price of a bottle of soda is $1. What is the relative price of a bag of corn chips?

Normative analysis involves value judgments

Indicate whether the statement is true or false

If a dinner guest was serious when she said that she could never get enough of your cooking, you would conclude that the marginal utility of your cooking for her was _____

a. negative b. zero c. increasing at an increasing rate d. positive e. more than total utility