Total Utility Is Measured by a Mythical Unit Called The

question 10

Multiple Choice

Total utility is measured by a mythical unit called the:

• A) bliss unit.
• B) useful unit.
• C) pleasure unit.
• D) util.

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Definitions:

Total Utility

The overall contentment derived from the consumption of a specific number of goods or services.

Utility

The complete fulfillment experienced when consuming a product or service.

Marginal Utility

The extra pleasure a customer receives from consuming an additional unit of a product or service.