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 the consumer buys.
E) difference between the marginal utilities of the first and second unit of a good consumed.
Correct Answer:
Verified
Q1: According to the law of _,the marginal
Q8: Consumer preferences _
A)do not vary from one
Q12: Which of the following statements is true
Q20: The law of diminishing marginal utility states
Q33: Which of the following is true of
Q34: Utility is determined by _.
A)consumer income
B)the prices
Q39: Marginal utility is the:
A)overall satisfaction obtained from
Q41: "The second glass of Evian water was
Q42: The following table shows the marginal utility
Q43: The following table shows the total utility
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