Marginal Utility

Marginal Utility

12th Grade

10 Qs

quiz-placeholder

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Marginal Utility

Marginal Utility

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Medium

Created by

Caleb Watson

Used 25+ times

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10 questions

Show all answers

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

Media Image

What's the marginal utility of the 2nd good?

210

120

90

-90

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