Match the Equations with Their Graphs $y = \frac { 1 } { 3 } x + 3$

question 308

Multiple Choice

Match the equations with their graphs.
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• A) \(y = \frac { 1 } { 3 } x + 3\)
• B) \(y = \frac { 1 } { 3 } x + 2\)
• C) \(y = x + 3\)

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Definitions:

Consumer Surplus

Consumer surplus represents the discrepancy between the total price consumers are prepared and able to spend on a product or service and the actual amount they end up paying.

Marginal Utility

The additional satisfaction or utility a consumer receives from consuming one more unit of a good or service.

Marginal Utility

Marginal utility represents the additional satisfaction or utility a consumer gains from consuming one more unit of a good or service.

Total Utility

The sum satisfaction or benefit that a consumer receives from consuming a particular quantity of goods or services.