Practice Quiz

CLEP Microeconomics Exam Prep

Category - Microeconomics

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Why is it likely that when Mike goes to a sushi restaurant, he eats 15 pieces of sushi instead of 25?
  1. Mike probably cannot afford to eat more than 15 pieces of sushi
  2. The marginal utility of the sushi eventually weakens
  3. The marginal utility of the sushi rises
  4. The satisfaction that Mike derives from the sushi remains constant
Explanation
Answer - B - It is likely that when Mike goes to a sushi restaurant he eats 15 pieces of sushi instead of 25 because the marginal utility of the sushi eventually weakens.

Key Takeaway: Utility is typically discussed within the context of the law of diminishing marginal utility. This law states that as a person gains more of one particular item, that person will have less satisfaction (or utility) from obtaining that one more unit.
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