
Marginal Utility
Quiz
•
Social Studies
•
12th Grade
•
Practice Problem
•
Medium
Caleb Watson
Used 25+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
I get less enjoyment out of each additional can of soda I drink. What does this represent?
Law of Diminishing Utility/Return
Capital
Margin
Scarcity
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is a rational decision?
One where the Marginal Benefit is equal to or greater than Marginal Cost
One where the marginal benefit is less than marginal cost
Anything that I do
One that makes absolutely no sense
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is Marginal Benefit/Utility?
The cost of any good
The satisfaction that a consumer gets from each subsequent addition
The total cost of a given decision
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is a util?
Something that measures the total cost of an activity
A rational decision
an imaginary unit of measurement representing the amount of utility a good provides
An imaginary animal
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If Ann gets 100 units of utility from reading a book and 500 units of utility from playing with her cat, we know that Ann
does not enjoy reading books
does not enjoy playing with her cat
prefers reading a book to playing with her cat
prefers playing with her cat to reading a book
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The first four dinner rolls Joan consumes have total utility of 15, 27, 37, and 45 respectively. What is the marginal utility of the 4th dinner roll?
124 Utils
45 Utils
11.25 utils
8 utils
7.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
What's the marginal utility of the 2nd good?
210
120
90
-90
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