Which of the Following Is True About Marginal Utility

question 203

Multiple Choice

Which of the following is true about marginal utility?

• A) Marginal utility is total utility divided by the total quantity consumed.
• B) Marginal utility is the change in total utility divided by the change in total quantity demanded.
• C) Marginal utility is the satisfaction that a consumer experiences from all the units of a good or service consumed.
• D) None of the above are true.

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Definitions:

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A setting or circumstance that grants a company a beneficial or preeminent status in comparison with its competitor firms.

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A workplace where employees are not required to join the union as a condition of employment, but must do so within a specified period of starting work.

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A measurable outcome that indicates the success or failure in achieving a set goal or objective.

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The fundamental actions or processes that are directly involved in creating and delivering a product or service to customers.