Business, 03.03.2020 17:07, 10027945

Sean is spending the day at the water park. He paid to enter the park and can use any water ride an unlimited number of times throughout the day. His favorite ride is the Twisty River.

a. Sean's marginal utility of riding the Twisty River the first time is 50 utils. Sean's marginal utility of riding the Twisty River the second time is likely
O greater than 50 utils.
O less than 50 utils.
O equal to 50 utils

b. If Sean's total utility begins to decrease after his fifth ride on the Twisty River, we can conclude
O Sean's marginal utility is starting to increase.
O Sean's marginal utility has become negative.
O Sean has maximized his marginal utility

c. Suppose instead of an entrance fee that Sean must pay each time he rides the Twisty River. Compared to the entrance fee, Sean will likely ride the Twisty River
O fewer times
O more times.
O the same number of times.

Answers: 2

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Sean is spending the day at the water park. He paid to enter the park and can use any water ride an...