Marginal Utility Is Defined as

question 234

Multiple Choice

Marginal utility is defined as

• A) the increase in utility divided by the total number of units consumed.
• B) the total utility divided by the total number of units consumed.
• C) the change in total utility divided by the change in number of units consumed.
• D) the number of units consumed divided by the total utility.

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Definitions:

Network Capital

The valuable resources a person can access through their social networks, including support, information, and opportunities.

Gini Coefficient

A measure of statistical dispersion intended to represent the income inequality or wealth inequality within a nation or any other group of people.

Income Inequality

The unequal distribution of income among individuals or groups within a society, leading to economic and social disparities.

Human Capital

Is the sum of useful skills and knowledge that an individual possesses.