Question 38(1 point)

Billy is deciding whether to watch TV at home or go spend time with his friends. If Billy decides to stay home, it can be concluded that _____

Question 38 options:

	Billy never prefers spending time with his friends to watching TV
	Billy expected to get more utility from watching TV than spending time with his friends.
	Billy expected to get more utility from spending time with his friends than watching TV.
	Billy always prefers watching TV to spending time with his friends.

Question 39(1 point)

In general, as a consumer consumes more of a good or service, total utility _____ and marginal utility _____.

Question 39 options:

	increases; increases
	increases; decreases
	decreases; increases
	decreases; decreases

Question 40(1 point)

Suppose Olivia has an income of $800/week for which she can use to consume two goods: entertainment (E) and other (O). Furthermore, suppose the price per unit of entertainment is $40 and the price per unit of other is $25. Does the following diagram accurately represents Olivia's budget constraint?