quiz 7 Microeconomics 10 Multiple choice quiz urgent!

1.The amount by which an additional unit of a good or service increases a consumer’s total utility, all other things unchanged, is:2. The marginal utility for the second unit is:   3. The marginal utility for the sixth unit is: 4.The amount by which total utility rises when an additional unit of a good is consumed is called:5. Assume that the price of good X is $1 per unit and the price of good Y is $2 per unit, and you consume 4 units of good X and 2 units of good Y. To maximize utility, assuming that the goods are divisible, you would consume:6.Which of the following equals marginal utility per $1?7.A change in the ability to purchase a good because its price has increased is most closely related to the:8.Total utility falls as marginal utility declines.9.When MUx/Px > MUy/Py, the buyer should decrease the quantity of X purchased.  10.Total utility is maximized when marginal utility per additional dollar spent is the same for all goods.     

Save Time On Research and Writing
Hire a Pro to Write You a 100% Plagiarism-Free Paper.
Get My Paper
Still stressed from student homework?
Get quality assistance from academic writers!

Order your essay today and save 25% with the discount code LAVENDER