In Which of the Following Real-Life Situations Would It Be

question 4

Multiple Choice

In which of the following real-life situations would it be useful to use a digital certificate?

• A) if you were submitting a paper to your professor
• B) if you were registering for an event
• C) if you were emailing a friend
• D) if you were signing a rental lease

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Definitions:

Marginal Utility

The additional satisfaction or utility that a consumer receives from consuming one more unit of a good or service.

Budget Constraint

A budget constraint outlines the mix of goods and services a consumer is able to buy, based on their income and the prices of those goods and services.

Budget Constraint

A budget constraint represents the combination of goods and services that a consumer can purchase given their income and the prices of those goods and services.

Marginal Utility

The incremental enjoyment or value obtained from consuming an extra unit of a good or service.