Utility Refers to the

question 26

Multiple Choice

Utility refers to the

• A)Satisfaction obtained from a good or service.
• B)Additional satisfaction obtained from one more unit of a good or service.
• C)Willingness to buy specific quantities of a good or service at a particular price.
• D)Decrease in satisfaction as more of a good or service is consumed.

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Definitions:

Superstitious

Pertaining to or characterized by beliefs or practices resulting from ignorance, fear of the unknown, trust in magic or chance.

Internal

Originating from within an entity or system, rather than coming from external influences.

Need for Achievement

A psychological drive or motivation to accomplish tasks, achieve excellence, or attain challenging goals.

Difficult Task

A task that poses a significant challenge to an individual, often requiring substantial effort, skill, or knowledge to complete.