Question

during thanksgiving you participated in a pumpkin pie - eating contest. you really enjoyed the first two pies, the third one was okay, but as soon as you ate the fourth one you became ill and lost the contest. after the third pie, your total utility multiple choice decreased. stayed the same. was zero. increased, but by less than for the first three pies.

Explanation:

Utility is the satisfaction a consumer gets from consuming a good or service. Since the third pie was still consumed and provided some level of satisfaction (even if not as much as the first two), total utility increases. But due to the law of diminishing marginal utility, the additional utility from the third pie is less than from the first - two pies combined.

Answer:

D. increased, but by less than for the first three pies