Practice Quiz

Praxis II: Economics Content Knowledge Exam Prep

Category - Economics

Start a Study Session Sign up for Question of the Day
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.
Previous Next
Was this helpful? Upvote!
Login to contribute your own answer or details
Start a Study Session Sign up for Question of the Day

Top questions

Related questions

Most popular on PracticeQuiz