Barlo lunch snacks places a coupon in each box of its cracker product. customers may send in five coupons and $3, and the company will send them a recipe book. sufficient books were purchased at a cost of $5 each. a total of 500,000 boxes of product were sold in 2016. it was estimated that 4% of the coupons would be redeemed. during 2016, 9,000 coupons were redeemed. what is barlo's premium expense for 2016?

What is the difference between total utility and marginal utility? a. marginal utility is subject to the law of diminishing marginal utility while total utility is not. b. total utility represents the consumer optimum while marginal utility gives the total utility per dollar spent on the last unit. c. total utility is the total amount of satisfaction derived from consuming a certain amount of a good while marginal utility is the additional satisfaction gained from consuming an additional unit of the good. d. marginal utility represents the consumer optimum while total utility gives the total utility per dollar spent on the last unit.