Choose the Best Answer

question 123

Multiple Choice

Choose the best answer.
-The mass of your math text book is about how much?

• A) 1.3 grams
• B) 1.3 milligrams
• C) 1.3 kilograms
• D) 1.3 metric tonnes

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Definitions:

Total Utility

The total satisfaction received from consuming a given total quantity of a good or service.

Income

The money received by an individual or business in exchange for labor, services, or investment, constituting a basis for consumption and savings.

Consumer Equilibrium

The point at which the amount of goods purchased by a consumer is equal to their preference at prevailing market prices, maximizing utility.

Utility

The satisfaction or benefit a consumer derives from consuming a good or service.