Which is a true statement about marginal benefit? O tis the difference (or change) in cost of a different choice. O To an individual, one good may have a larger marginal benefit than than another. O The amount of benefit a person receives from a good or service remains constant.

- Cons X ∞ Chapter 6 - Cons X sments/632bc3fe081cee0063847766 00 Course Catalog - X ∞o Exam 1 - Chapter X = 6.2 How Changes X Chapter 6 - Consumer Choice OPEN OFirst Class Economy What is the Marginal Utility per Dollar for an economy ticket? Will Ari be better off booking a first class or an economy ticket? 00 Course Catalog - x + Ari needs to book a flight between Minneapolis and Los Angeles and has a choice between flying in first class or economy. A first class ticket costs $1140 and an economy ticket costs $200. The first class ticket generates $1430 of utility and the economy ticket generates $380 value of utility. Note: A purchase generating utility tells us the marginal utility of the good. What is the Marginal Utility per Dollar for a first class ticket? I 12 ☆ 9- la

As more of a good is consumed in a given period, its... total utility remains constant total utility decreases then increases O marginal utility decreases O marginal utility increases

Number of Sodas per day Total Utility Marginal Utility 1 20 2 35 3 47 12 4 10 5 7 Diminishing marginal utility sets in after the per day. O First Second O Third O Fourth Fifth