Multiple Choice
Economists use the term "marginal utility" to describe the
A) change in total satisfaction caused by consumption of an additional unit of a good.
B) average utility of each unit of a good consumed.
C) inverse of the measure of total utility.
D) total satisfaction received from consumption of a good.
E) price paid for every unit consumed.
Correct Answer:
Verified
Related Questions
Q5: Q6: Q7: Q8: Q9: A basic hypothesis of marginal utility theory Q11: If consumption of an extra unit of Q12: The idea that the utility a consumer Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents