The law of diminishing marginal utility states that total utility will decrease at an increasing rate as additional units of a commodity are consumed.

Suppose you have just been hired as a management consultant by a major oil company to help it optimally price gasoline at its service stations. In your first presentation to? management, how would you describe your planned methodology to perform the? analysis?

A.Management consulting method. B.Price discrimination method. C.Economic method. D. Scientific method.

Refer to the information provided in Figure 6.8 below to answer the question(s) that follow. Figure 6.8Refer to Figure 6.8. The marginal utility of the third movie rental is

A. 0. B. 3. C. 12. D. 28.