Multiple Choice
If you have been consuming large quantities of ice cream on a hot summer afternoon and you decide to refrain from any additional consumption, it can be concluded that
A) total utility has reached a minimum and the marginal utility of an additional drink would be large.
B) total utility has reached a maximum and the marginal utility of an additional drink would be small.
C) total utility has reached a maximum and the marginal utility of an additional drink would be zero.
D) total utility has reached a minimum and the marginal utility of an additional drink would be negative.
Correct Answer:

Verified
Correct Answer:
Verified
Q312: The expression "getting the most bang for
Q313: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -Using the above
Q314: Utility refers to<br>A) the usefulness of a
Q315: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -In the
Q316: Which of the following statements is NOT
Q318: Suppose a consumer is at an optimum.
Q319: Suppose that indifference curve I1 lies to
Q320: The price of good X is $5
Q321: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -Use the above
Q322: To derive the law of demand, we