choose the correct answer

Z) Question 1 2.5 pts in consumer choice theory, when economists refer to the happiness, satisfaction, or pleasure derived from a purchase, they use the term ________________ . 0 utility 0 consumer benet 0 avail O advantage Z) Question 2 2.5 pts Marginal Utility is the __ 0 extra satisfaction received from consuming one more unit of a products 0 total satisfaction received from consuming a given number of units of a products 0 satisfaction received when consumers have had enough of a product. 0 average satisfaction received from consuming a product D Question 3 2.5 pts If a person consumes more and more of a good, and each additional unit adds less satisfaction than the previous unit consumed, we are seeing the workings of O the law of supply 0 the law of diminishing marginal utility O the law of increasing opportunity cost 0 the law of demand I) Question 4 2.5 pts In order to derive an individual's demand curve for a good, we could examine the quantity of the good purchased at the consumer's optimal choice when changing 0 income 0 the price of a close substitute 0 the price of the product holding everything else constant 0 tastes and preferences 3 Question 5 2.5 pts Damien says "I am so full I wouldn't eat another slice of cake if you paid me'[ According to this statement, what can we say about the marginal utility of Damien's next slice of cake. 0 It is negative 0 It is the same as the previous slice of cake 0 We need numerical information to make inferences about marginal utility 0 It is increasing Question 6 For Questions the next three questions refer to the following scenario and the accompanying table: Davis loves to buy asian pears at the local farmer's market. The cost of an asian pear is $2. The following table displays Davis' utility he receives from consuming asian pears in a given week. Asian Total Utility Pears 1 UT 9 N w 12 4 14 15 a ur 14 12 If asian pears were free. How pears would Davis buy each week to maximize his satisfaction? 0 6 O As many as he can carry. 5 Question 7 For Davis, what is the marginal utility of the second pear? O 4 utils O 3 utils O 9 utils O 14 utilsD Question 8 For Davis, what is the marginal utility per dollar of the fourth pear? O 1 util per dollar O 7 utils per dollar O 2 utils per dollar O 14 utils per dollar