Marginal utility is the
A) total satisfaction that a person gets from the consumption of all of the units of a good consumed.
B) change in satisfaction that results from a one-unit increase in the quantity of a good consumed.
C) maximum price that a consumer is willing to pay for an additional unit of a good.
D) additional cost to a consumer when an additional unit of a good is consumed.
Correct Answer:
Verified
Q14: The marginal utility from the consumption of
Q15: Utility is best defined as
A) the amount
Q16: Which of the following is NOT an
Q17: Which of the following statements is TRUE?
A)
Q18: Total utility describes
A) the benefit gained from
Q20: The total utility from three skirts is
A)
Q21: The total utility you get from eating
Q22: The marginal utility of a third skirt
Q23: Diminishing marginal utility means that
A) Ralph will
Q24: The principle of diminishing marginal utility means
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