Marginal utility is measured as
A) utility per unit of production.
B) extra output divided by extra utility.
C) output of a good or service divided by price.
D) extra utility from each additional good consumed.
Correct Answer:
Verified
Q6: Which English philosopher set out to develop
Q7: The amount of pleasure or satisfaction derived
Q10: Economists use what term to describe the
Q10: In economics, utility is defined as
A) the
Q14: If total utility is decreasing, then marginal
Q14: The term marginal means
A) total.
B) cumulative.
C) subjective.
D)
Q15: To calculate marginal utility, divide the change
Q16: The utility that people experience from the
Q17: Utility analysis helps economists understand
A) how people
Q20: Which of the following is NOT true
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents