Marginal Utility Is a Measure

question 79

Multiple Choice

Marginal utility is a measure

• A)of total utility derived from consuming a given amount of a good
• B)of the total utility gained from consuming an extra unit of a good
• C)computed by dividing total utility by the amount of a good consumed
• D)determined by production conditions in a market
• E)of the cost associated with consuming one more unit of a good

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Definitions:

Groupthink

A psychological phenomenon where a group prioritizes harmony and conformity over critical analysis, often leading to flawed decision-making.

Effective Work Groups

Teams that achieve high levels of performance and efficiency through well-coordinated collaboration and communication.

Objective Measures

Quantitative benchmarks or criteria used to assess performance or success, free from personal bias.

Worker Satisfaction

The level of contentment employees feel with their job and work environment, often influencing productivity and retention.