The Marginal Utility of a Unit of Good Y to Jane

question 110

Multiple Choice

The marginal utility of a unit of good Y to Jane is

• A)the additional utility that Jane gets from consuming one more unit of Y.
• B)defined in money terms as the minimum amount Jane is willing to pay for that additional unit of Y.
• C)defined in money terms as the maximum amount Jane is willing to pay for all the Y she buys except that additional unit.
• D)All of the above are correct.

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Definitions:

Internal Output

The result or effect produced within a system, not directly observable or accessible from outside the system.

Output Field Device

A device that receives signals or data from a control system and performs actions in the physical world, like actuators or valves.