Marginal utility is defined as:
A) the extra satisfaction the consumer receives from an extra $1 of income.
B) the total level of satisfaction a consumer receives upon the consumption of a certain number of goods.
C) the number of hours a consumer would be willing to work to receive a certain product.
D) the extra satisfaction a person derives from consuming an additional unit of a good.
E) a comparison of the utility a good provides with the price of that good.
Correct Answer:
Verified
Q24: If total utility is falling, marginal utility
Q25: Which of the following is true about
Q26: Marginal utility (MU) equals:
A) P/Q.
B) Q/TU.
C) PQ/TU.
D)
Q27: Consumers tend to maximize:
A) marginal utility.
B) marginal
Q28: A utility-maximizing consumer would never purchase a
Q30: If finding the last stamp to complete
Q31: If the marginal utility of each good
Q32: The conceptual measure of the satisfaction a
Q33: Total utility is measured by a mythical
Q34: Marginal utility is the change in:
A) total
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