Total utility can be thought of as the
A) total satisfaction derived from a bundle of goods.
B) minimum amount of money a consumer is willing to spend on a bundle of goods.
C) additional satisfaction a consumer receives from the marginal unit of a good.
D) willingness to pay for the marginal unit of a good.
Correct Answer:
Verified
Q84: Scarcity
A)necessitates choice among consumer goods.
B)of income renders
Q85: High price and low total utility indicate
A)low
Q86: Because of diminishing marginal utility, you
A)should never
Q87: Economic behavior is always rational.
Q88: Modern economists measure how much utility Fred
Q90: Lana spent $5 to see a movie.We
Q91: By changing the amount of income a
Q92: When the price of a commodity rises,
Q93: Table 5-1 Q94: If a commodity is inexpensive and its![]()
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