Which of the Following Statements Is Correct

question 121

Multiple Choice

Which of the following statements is correct?

• A)Marginal utility is the accumulation or summation of total utility.
• B)Total utility is the accumulation or summation of marginal utility.
• C)Total utility is the product of multiplying price times marginal utility.
• D)Total utility is the change in marginal utility as quantity consumed increases.

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Definitions:

Sale Received

The revenue or income received from completed sales transactions.

Accrued Interest

Interest that has been earned but not yet received or paid. It accumulates from one payment period to the next.

Commission

A fee paid to an agent or employee for facilitating a sale or transaction, which is often a percentage of the sale price.

Accrued Interest

Interest that has been incurred but not yet paid, often referring to bonds or loans.