1. The table to the right gives Joe's total utility for novels read from 0 to 6 books. At what point does Joe begin to experience diminishing marginal utility?
- With the first book.
- With the second book.
- With the third book.
- With the fourth book.
- With the fifth book.
|
Joe's Utility |
Novels | Utility in $ |
0 | $0 |
1 | $25 |
2 | $45 |
3 | $63 |
4 | $77 |
5 | $88 |
6 | $96 |
|