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 the law of diminishing marginal utility.
Correct Answer:
Verified
Correct Answer:
Verified
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