Multiple Choice
Suppose you are eating buffalo wings at a local happy hour. The total utils from doing so after the fourth, fifth, sixth, and seventh wings are 30, 50, 65, 72, respectively. In this situation we have __________ marginal utility, which is generally __________ in the analysis of consumer choice.
A) increasing; assumed
B) increasing; not assumed
C) diminishing; assumed
D) diminishing; not assumed
Correct Answer:
Verified
Correct Answer:
Verified
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