What is marginal utility?
A) The change in total utility divided by the price of the last unit of a good or service consumed.
B) The change in total utility a person receives from consuming an additional unit of a good or service.
C) The utility from consuming a given quantity of a good or service.
D) The decrease in total utility from consuming more and more units of a good or service.
Correct Answer:
Verified
Q50: Table 6.2 Q51: What is the satisfaction a person received Q52: Which of the following is true about Q53: If marginal utility of apples is diminishing Q54: In making decisions about what to consume, Q57: If the marginal utility Ida Mae receives
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