Marginal Utility Is the

question 165

Multiple Choice

Marginal utility is the

• A)sensitivity of consumer purchases of a good to changes in the price of that good.
• B)change in total utility obtained by consuming one more unit of a good.
• C)change in total utility obtained by consuming another unit of a good divided by the change in the price of that good.
• D)total utility associated with the consumption of a certain number of units of a good divided by the number of units consumed.

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Definitions:

April

The fourth month of the year in the Gregorian calendar.

Sales Estimates

Sales estimates are projections of the amount of revenue that will be generated through sales activities in a future period.

Budgeted Cost

Estimated costs associated with manufacturing a product, conducting a project, or running a department during a specific period.

Goods Manufactured

The total value or volume of products completed and ready for sale during a specific accounting period.