The principle of diminishing marginal utility can be used to explain why
A) Bob's second soda is less enjoyable than his first soda.
B) Bob's first soda is less enjoyable than his second soda.
C) Charlie enjoys his fourth soda less than Bob enjoys his first.
D) Bob enjoys his first soda more than Charlie enjoys his fourth.
A
You might also like to view...
The EU's antitrust chief in November 2008 fined car glass producers Asahi, Pilkington, Saint-Gobain and Soliver more than 1.3 billion euros ($1.66 billion) for price-fixing, the largest sum ever levied by the EU for a cartel
Price fixing is a violation of ________. A) price fixing legislation B) antitrust law C) Federal Trade Commission D) Division of the U.S. Department of Justice
The GDP deflator in year 2 is 105, using year 1 as the base year. This means that, on average, the cost of goods and services is
A) 5% higher in year 1 than in year 2. B) 105% higher in year 1 than in year 2. C) 105% higher in year 2 than in year 1. D) 5% higher in year 2 than in year 1.