Multiple Choice
Suppose Hannah spends $3 to buy five biscuits.The marginal utility of the fifth biscuit is valued at $0.60.The total utility derived from five biscuits is valued at $4.20.Hannah's consumer surplus is valued at _____
A) $20.00.
B) $15.00.
C) $5.00.
D) $2.40.
E) $1.20.
Correct Answer:
Verified
Correct Answer:
Verified
Q150: A business executive who buys a portable
Q151: Table 6.1<br> <span class="ql-formula" data-value="\begin{array}
Q152: Which of the following is true?<br>A)Different people
Q153: If total utility can be increased by
Q154: Table 6.8<br> <span class="ql-formula" data-value="\begin{array}
Q156: As a consumer allocates income between Good
Q157: As a consumer buys more of a
Q158: Which of the following is correct?<br>A)If total
Q159: Differences in the opportunity cost of time
Q160: Which of the following is an example