The Amount by Which an Additional Unit of a Good

question 112

Multiple Choice

The amount by which an additional unit of a good or service increases a consumer's total utility, all other things unchanged, is:

• A) marginal utility.
• B) maximum utility.
• C) average utility.
• D) required utility.

---

Definitions:

Population

A total set of individuals, items, or data from which a statistical sample is drawn.

Normally Distributed

A statistical distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean.

Normal Curve

A symmetrical bell-shaped curve that represents the distribution of a set of data, where most occurrences take place around the mean.