The table above gives Jane's total utility from magazines and CDs. The price of a magazine is $4 and the price of a CD is $10. Which of the following CORRECTLY illustrates the principle of diminishing marginal utility? The fact that
A) the sixth magazine has less marginal utility than the sixth CD.
B) Jane's marginal utility per dollar from the second magazine is the same as her marginal utility per dollar from the third CD.
C) the marginal utility per dollar from the sixth magazine is less than the total utility from six magazines.
D) the marginal utility of the third CD is less than the marginal utility of second CD.
D
You might also like to view...
If the IS curve is negatively sloped and the LM curve is positively sloped
A) an increase in government expenditures will raise real GDP and lower interest rates. B) a fall in the real money supply will raise real GDP and lower the interest rate. C) an increase in taxes and an increase in money supply will lower the interest rate and give little or no change in real GDP. D) an increase in taxes and a fall in the money supply will raise the interest rate and give little or no change in real GDP.
Between 1790 and 1860, Southern population growth was dominated by growth in the slave population
Indicate whether the statement is true or false