Question 46 (The marginal utility of eating sweet potatoes is the: Question 46 options: a) change in total utility (TU)

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Question 46 (The marginal utility ofeating sweet potatoes is the:
Question 46 options:
a)
change in total utility (TU) from consuming an additionalserving.
b)
TU divided by the number of servings consumed.
c)
change in TU divided by the number of servings consumed.
d)
TU divided by the change in the number of servings consumed.
Question 47
A basic microeconomics rule states that when the price (P)exceeds the marginal utility (MU) of a good, an individual shouldconsume more of that good.
Question 47 options:
Question 48
The Law of Diminishing Marginal Utility:
Question 48 options:
a)
refers to the tendency of total utility (TU) to increase untilan individual's budget is no longer constrained.
b)
refers to the tendency of marginal utility (MU) to decline asconsumption of a good or service increases.
c)
indicates that if a good is inferior, less of it will bepurchased when income falls.
d)
assumes all goods are normal.
Question 49
Use the following information to answer this question and thenext. Assume that income equals $6, the price of Good Xequals $2, and the price of Good Y equals $1.
Quantity of Good X TU of Good X Quantity of Good Y MU of Good Y
1 $12 1 $5
2 20 2 4
3 24 3 3
4 26 4 2
5 26 5 1
The marginal utility for 3 units of Good X is $4.
Question 49 options:
Question 50 (2 points)
(Refer to the table above.) The optimal consumption bundleequals 2 units of Good X and 2 units of Good Y.
Question 50 options: