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:

Toll Road

A public or private roadway for which a fee is charged to use, typically used to fund maintenance and new infrastructure.

Produce Revenue

The process of generating income from business activities.

Treasury Bills

Short-term government securities issued at a discount from the face value and mature in a year or less, used to finance the national debt.

Minimum Denomination

The smallest value of a security or financial instrument that can be purchased or traded.