Marginal utility is the _____
A) overall satisfaction obtained from consuming a good.
B) additional satisfaction obtained from consuming one more unit of a good.
C) average satisfaction obtained from consuming a good.
D) increase in satisfaction that results from reducing the consumption of a good by one percent.
E) additional cost of purchasing one more unit of a good.
Correct Answer:
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Q12: Which of the following statements is true
Q13: The law of diminishing marginal utility states
Q14: Diminishing marginal utility means that _
A)as one
Q15: Marginal utility is _
A)the total satisfaction derived
Q18: In economics,tastes and preferences refer to _
A)consumption.
B)income.
C)prices.
D)utility.
E)trends.
Q19: Total utility is the _
A)sum of all
Q20: The law of diminishing marginal utility states
Q21: "The second glass of Evian water was
Q22: Negative marginal utility implies that _
A)total utility
Q27: The marginal utility of a second copy
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