Total utility is the _____
A) sum of all marginal utilities.
B) price paid for one unit of a good.
C) product of all marginal utilities.
D) total expenditure on all units of a good a consumer buys.
E) difference between the marginal utilities of the first and the second unit of a good consumed.
Correct Answer:
Verified
Q14: Diminishing marginal utility means that _
A)as one
Q15: Marginal utility is _
A)the total satisfaction derived
Q17: Marginal utility is the _
A)overall satisfaction obtained
Q18: In economics,tastes and preferences refer to _
A)consumption.
B)income.
C)prices.
D)utility.
E)trends.
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
Q23: When would a consumer experience disutility?
A)if total
Q24: "I don't feel so good; I shouldn't
Q27: The marginal utility of a second copy
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