1) Marginal utility is A) the utility received from consuming one unit of a good
ID: 1098436 • Letter: 1
Question
1) Marginal utility is
A) the utility received from consuming one unit of a good.
B) the change in total utility due to a one unit change in the quantity of a good consumed.
C) the total utility received from consuming a certain quantity of a good divided by the quantity
D) the utility received by the last consumer of a good.
Please explain the answer with details, thank you
2)The PPF has been pushed out to line B due to:
A) technological advances with corn.
B) an increase in human capital.
C) an increase in land.
D) an increase in capital accumulation.
Please explain answer thank you
3) Please explain with answer thank you
We see that Turtletopia has the absolute advantage in producing both corn and pork.
A) True
B) False
Explanation / Answer
1.
B) the change in total utility due to a one unit change in the quantity of a good consumed.
2.
A) technological advances with corn.
3.
A) True
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