Which of the Following Statements Is True

question 44

Multiple Choice

Which of the following statements is true ?

• A) Total utility is the extra satisfaction from the consumption of a good or service.
• B) Marginal utility is the amount of satisfaction received from all the units of a good or service consumed.
• C) The law of diminishing marginal utility states that as more of a good or service is consumed total utility decreases.
• D) Consumer equilibrium is a combination of goods and services consumed which maximizes total utility from a given budget.

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Definitions:

Conscious Forces

Psychological elements within an individual’s awareness that influence thoughts, feelings, and actions.

Image

The representation or perception of someone or something in the mind or through media, which can influence attitudes and behaviors.

Neurotics

Individuals who experience high levels of anxiety, emotional stress, or have mild mental health issues, but are still able to function in daily life.

Perverts

A term often used in a derogatory way to describe individuals whose sexual behavior is considered deviant from societal norms.