Use the Following to Answer Question

Use the following to answer question:
-(Table: The Total Utility of Income After College Expenses) Use Table: The Total Utility of Income After College Expenses.The Smith family has _____ marginal utility as income increases.The marginal utility of income between $32,500 and $35,000 is _____ utils per dollar,while it is _____ utils per dollar between $45,000 and $47,500.

A) increasing;0.48;0.64
B) increasing;0.12;0.36
C) diminishing;0.28;0.08
D) diminishing;0.40;0.10

Correct Answer:

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