Marginal Utility Is the

question 24

Multiple Choice

Marginal utility is the

• A)Change in total utility obtained by spending one extra dollar on a good or service.
• B)Change in total utility obtained by consuming one extra unit of a good or service.
• C)Change in total utility obtained by selling one extra unit of a good or service.
• D)Utility received from consuming the optimal combination of goods and services.

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Definitions:

Default Language

The pre-selected language setting in software or electronic devices that automatically applies unless changed by the user.

Synchronous Communication

A type of communication where participants exchange information in real-time, such as through face-to-face conversations or live chat.

Language Differences

Variations in language that can lead to miscommunications and misunderstandings among people from different linguistic backgrounds.

Multinational Firms

Companies that operate in multiple countries, managing production or delivering services in more than one country.