Multiple Choice
The fact that your fourth slice of pizza does not generate as much satisfaction as your third slice is an example of
A) consumer surplus.
B) diminishing total utility.
C) diminishing marginal utility.
D) the paradox of value.
E) the law of demand.
Correct Answer:

Verified
Correct Answer:
Verified
Q1: Ben spends $50 a year on 2
Q2: Diminishing marginal utility means that<br>A)Ralph will enjoy
Q4: Danny has $12 to spend on two
Q5: Behavioural economics<br>A)studies the activity of the human
Q6: Total utility is always<br>A)greater than marginal utility.<br>B)less
Q7: Marginal utility theory predicts that a rise
Q8: A behavioural economist will explain Tom's donation
Q9: Chuck and Barry have identical total utility
Q10: Martha and Sarah have the same preferences,face
Q11: Billy likes candy and popcorn.Candy sells for