The amount by which an additional unit of a good or service changes a consumer's total satisfaction,all other things unchanged,is _____ utility.
A)marginal
B)maximum
C)average
D)expected

Question

Quizplus · Accepted Answer

Marginal utility refers to the additional satisfaction a consumer receives from consuming one more unit of a good or service, keeping all other factors constant. Maximum and average utility are not relevant concepts in this context, while expected utility refers to the overall subjective value a consumer places on a particular outcome, considering its probability and potential consequences.

The Amount by Which an Additional Unit of a Good