additive utility O ignoring sunk cost rational optimization diminishing marginal utility

Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter6: Consumer Choice Theory
Section: Chapter Questions
Problem 1SQP
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The table gives a utility schedule for Anton.
Number of
Doughnuts
1
3
4
6
Total Utility
12
33
43
50
56
60
What important property does Anton's utility exhibit?
additive utility
ignoring sunk cost
rational optimization
diminishing marginal utility
Transcribed Image Text:The table gives a utility schedule for Anton. Number of Doughnuts 1 3 4 6 Total Utility 12 33 43 50 56 60 What important property does Anton's utility exhibit? additive utility ignoring sunk cost rational optimization diminishing marginal utility
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