Marginal Utility Is the Change In

question 61

Multiple Choice

Marginal utility is the change in:

• A) total utility when an extra unit of output is produced.
• B) marginal utility when an extra unit of output is consumed.
• C) total utility when an extra unit of output is consumed.
• D) average utility when an extra unit of output is consumed.

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Definitions:

Perfection

In legal and financial terminology, it refers to the necessary steps taken to secure rights or interests in collateral against third parties.

Security Interest

A legal claim or lien on collateral, giving a lender the right to take property to satisfy a debt if the debtor defaults.

Default

The failure to meet the legal obligations of a loan, typically by not making the required payments.

Re-Perfect

The act of renewing or restoring a security interest or claim in property to its original status or priority, generally after it has been lapsed or compromised.