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 |
|
