The amount by which total utility rises when an additional unit of a good is consumed is called:
A) average utility.
B) the law of diminishing returns.
C) incremental utility.
D) marginal utility.
Correct Answer:
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Q33: Use the following for questions 23-27.
Exhibit: Total
Q34: Which of the following statements is true
Q35: Use the following for questions 23-27.
Exhibit: Total
Q36: Assume that the total utilities corresponding to
Q37: In using the concept of marginal utility
Q39: If the first four units of a
Q40: Use the following for questions 23-27.
Exhibit: Total
Q41: If a consumer purchases a combination of
Q42: Whatever the time period involved, a consumer's
Q43: Which of the following is (are) true?
A)
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