What is the total satisfaction that Reece gets from each book she reads referred to as?
A) demand
B) marginal returns
C) total utility
D) consumer surplus

Question

Quizplus · Accepted Answer

The total satisfaction that Reece gets from each book she reads is referred to as total utility. Therefore, the correct choice is option C. Option A, demand, refers to the amount of a certain good or service that consumers are willing to buy at a particular price. Option B, marginal returns, refers to the change in output resulting from a unit change in the input, such as labor or capital. And option D, consumer surplus, is the difference between the maximum price a consumer is willing to pay for a product and the actual price they end up paying.

What Is the Total Satisfaction That Reece Gets from Each