Q1. Suppose you really, really like ice cream. You adore ice cream. Does the law of diminishing marginal utility apply to your ice cream consumption?
Q2. If two commodities that you purchase on a regular basis carry the same price, does that mean they both provide the same total utility? Marginal utility?
Q3. If a person goes to the bowling alley planning to spend $15 but comes away with $5, what, if anything, can you conclude about the marginal utility of the alternatives (for example, bowl another line, have a soda or a sandwich) available to the person at the time he or she leaves?
Q4. Which do you like more-going to the movies or watching rented DVDs at home? If you engage in both activities during the same period, say a week, explain why.