The Main Difference Between Marginal Utility and Total Utility Is

question 198

Multiple Choice

The main difference between marginal utility and total utility is that

• A) marginal utility looks at the satisfaction of the total bundle of goods, and total utility looks at the total quantity consumed.
• B) marginal utility looks at the satisfaction of an additional unit consumed, while total utility looks at the satisfaction from the total quantity consumed.
• C) total utility looks at societal satisfaction, while marginal utility looks at the satisfaction of an individual person.
• D) consumers maximize marginal utility only.

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Definitions:

Private Employment Agencies

Organizations that match employers with job seekers, typically charging the employer a fee for their services.

Job Vacancies

Open positions within a company that are advertised to potential candidates.

Job Seekers

Individuals actively looking for employment opportunities, either as a new entrant to the job market or seeking a new position while employed or unemployed.

Quality of Hires

A metric used to evaluate how well new recruits meet the needs of the organization, their performance, and how they fit into the company culture.