For economists,the satisfaction an individual derives from the consumption of goods and services is BEST described as:
A) happiness.
B) usefulness.
C) utility.
D) opportunity cost.
Correct Answer:
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Q2: Which good is MOST likely to display
Q3: Economists identify the satisfaction a person derives
Q4: The marginal utility of coffee consumption for
Q5: Utility is the:
A)difference between a firm's total
Q6: The amount by which an additional unit
Q7: Utility is MOST closely related to:
A)usefulness.
B)satisfaction.
C)requirement.
D)necessity.
Q8: The utility of a good is determined
Q9: Which statement BEST describes the principle of
Q10: The principle of diminishing marginal utility means
Q11: Suppose bad weather and pollution dramatically reduce
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