Solved

If the Marginal Utility of the 3ʳᵈ Cup of Coffee

Question 139

Multiple Choice

If the marginal utility of the 3ʳᵈ cup of coffee is 23 and the marginal utility of the 4ᵗʰ cup is 15, then:


A) it is optimal for the consumer to have 3 cups of coffee.
B) the price of a cup of coffee must be relatively low.
C) it is optimal for the consumer to have 4 cups of coffee.
D) there is evidence of diminishing marginal utility.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions