144. Assume that the total utilities corresponding to the first five units of a

Question

144. Assume that the total utilities corresponding to the first five units of a product consumed are 10, 15, 19, 22, and 24, respectively. The marginal utility of the third unit is:
A) 19.
B) 15.
C) 4.
D) 3.

146. The law of diminishing marginal utility indicates that the slope of the marginal utility curve eventually becomes:
A) negative.
B) vertical.
C) horizontal.
D) positive.

147. The law of diminishing marginal utility indicates that the marginal utility curve eventually becomes:
A) vertical.
B) U-shaped.
C) upward sloping.
D) downward sloping.

Explanation / Answer

144. Assume that the total utilities corresponding to the first five units of a product consumed are 10, 15, 19, 22, and 24, respectively. The marginal utility of the third unit is:
A) 19.
B) 15.
C) 4.
D) 3.

146. The law of diminishing marginal utility indicates that the slope of the marginal utility curve eventually becomes:
A) negative.
B) vertical.
C) horizontal.
D) positive.

147. The law of diminishing marginal utility indicates that the marginal utility curve eventually becomes:
A) vertical.
B) U-shaped.
C) upward sloping.
D) downward sloping.

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