Multiple Choice
Elaine values the utility of her first cup of coffee at $1; a second cup, $.75; and a third cup, $.50.If Elaine drinks three cups of coffee for breakfast, her total utility is equal to
A) $.50, the value of her last cup of coffee.
B) $1.00, the value of her first cup of coffee.
C) marginal utility.
D) $2.25.
E) $1.50.
Correct Answer:
Verified
Correct Answer:
Verified
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