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Which of the Following Statements Is True

question 89

Multiple Choice

Which of the following statements is true?


Definitions:

Total Utility

The total satisfaction received from consuming a particular amount of goods or services.

Marginal Utility

The additional satisfaction or benefit a consumer derives from consuming one more unit of a good or service.

Additional Utility

The extra satisfaction or pleasure a person receives from consuming an additional unit of a good or service.

Additional Utility

The extra satisfaction or pleasure a consumer gains from consuming an additional unit of a good or service, also known as marginal utility.

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