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Marginal Utility
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First Name
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Your answer
Last Name
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Period
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Period 1
Period 2
Period 3
Period 4
Period 5
Which of the following statements best reflects the law of diminishing marginal utility?
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1 point
I have to have a scoop of ice cream on my pie.
I’ll never get tired of your cooking.
I prefer to eat several small meals a day, rather than three large ones.
The last bite tastes just as good as the first.
I couldn’t eat another doughnut if you paid me.
The principle of diminishing marginal utility means that when Sarah eats pizza, her satisfaction from the second slice of pizza is probably:
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greater than that from the first
equal to that from the first
less than that from the first
not comparable to that from the first
The marginal utility for the second unit below is:
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35.
15.
10.
5.
The theory of consumer choice is based on the hypothesis that each consumer wants to
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maximize her total utility.
maximize her marginal utility.
minimize the rate at which her marginal utility diminishes.
minimize the percentage of her consumption diverted to inferior goods.
Where do you think Mr. T gets the most utility?
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TGI Fridays
Applebees
Pizza Ranch
Olive Garden
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