Utility Is All of the Following Except

question 30

Multiple Choice

Utility is all of the following except

• A)a measurement of satisfaction
• B)benefits received from a choice
• C)decreases with consumption of additional units
• D)remains constant for all units consumed

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Definitions:

Economic Depreciation

The decrease in an asset's value over time due to use, wear, or obsolescence.

Capital

Refers to financial assets or the financial value of assets, such as funds held in deposit accounts and resources used for production.

Amortization Payment

A periodic payment which includes both interest and principal, used to pay off debt over a certain period of time.

Average Fixed Cost

The fixed cost per unit of output, which decreases as the quantity of output increases.