Marginal Utility Is

question 51

Multiple Choice

Marginal utility is:

• A)the slope of the total utility function.
• B)the slope of a ray from the origin to the total utility function.
• C)always less than average utility.
• D)always greater than average utility.

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Definitions:

Productivity

The efficiency at which individuals, companies, or economies produce goods and services, usually measured as output per unit of input.

Economic Growth

An increase in the amount of goods and services produced in an economy over a period of time.

Investment

Investment refers to the allocation of resources, usually financial, in order to generate income or profit, including the purchase of assets with the expectation that it will generate payoff in the future.

Advanced Economy

A term used to describe a country with a very high level of economic development, characterized by high-income levels, diversified economic structures, and stable financial markets.