Marginal Utility Is Equal to Which of the Following

question 162

Multiple Choice

Marginal utility is equal to which of the following?

• A) total income divided by the price of the product
• B) the change in total utility from consuming one more unit of a good
• C) the satisfaction obtained from consuming any number of units of a good
• D) total utility divided by the number of units of the good
• E) None of the above answers is correct.

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Definitions:

Payroll Tax

Dues collected from employees or employers, calculated by taking a fraction of the pay employers give to their workers.

Taxable Income

The amount of income that is subject to income tax after all deductions, exemptions, and adjustments have been accounted for.

Deductions And Exemptions

Specific amounts that taxpayers can subtract from their gross income to reduce taxable income, potentially lowering their tax liability.

Federal Income Taxes

Taxes levied by the U.S. federal government on the annual earnings of individuals, corporations, trusts, and other legal entities.