The Prefix for One Thousandth Is

question 71

Multiple Choice

The prefix for one thousandth is:

• A) milli-.
• B) multi-.
• C) nulli-.
• D) mono-.

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Definitions:

Marginal Utility

The extra pleasure or benefit a consumer receives from using an additional unit of a product or service.

Demand Schedule

A table that lists the quantity of a good that consumers are willing and able to purchase at varying price points, at a specific moment in time.

Total Utility

The total satisfaction or benefit that a consumer derives from consuming a certain quantity of goods or services.

Consumer Surplus

Describes the difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually pay.