Brent bishop is the vice president of operations for southern sweets bakery. he drives a 2017 toyota prius prime as his company car, and it has a fair market value of $37,500. the annual lease for the vehicle is $9,750. he reported driving 34,750 miles during 2018, of which 20 percent were for personal reasons. the company pays his fuel and charges him five cents per mile for fuel charges. required:
using the lease value rule, what is the valuation of brent’s company car benefit?

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.