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.

Question

Quizplus · Accepted Answer

Total utility refers to the total satisfaction or enjoyment that a consumer receives from a bundle of goods, which includes all units consumed. It is the overall level of usefulness or satisfaction that a consumer obtains from a particular set of goods or services. B, C, and D do not accurately describe total utility.

Total Utility Can Be Thought of as the