Marginal utility is the
A) total satisfaction received from consuming a given number of units of a product.
B) average satisfaction received from consuming a product.
C) extra satisfaction received from consuming one more unit of a product.
D) satisfaction achieved when a consumer has had enough of a product.
Correct Answer:
Verified
Q1: If total utility increases at a decreasing
Q3: Suppose your marginal utility from consuming the
Q4: As a consumer consumes more and more
Q5: If a consumer receives 20 units of
Q6: If your total satisfaction increases when you
Q7: Marginal utility can be
A)negative.
B)zero.
C)positive.
D)positive, negative, or zero.
Q8: If a consumer receives 22 units of
Q9: Consumers maximize total utility within their budget
Q10: Total utility
A)cannot decrease as a person consumes
Q11: Consumers have to make tradeoffs in deciding
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