Marginal Utility Is the

question 39

Multiple Choice

Marginal utility is the

• A)total satisfaction received from consuming a given number of units of a product.
• B)average satisfaction received from consuming a product.
• C)extra satisfaction received from consuming one more unit of a product.
• D)satisfaction achieved when a consumer has had enough of a product.

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Definitions:

Compensate

To compensate means to provide something, typically money, in recognition of loss, suffering, or damage incurred; a form of recompense.

Foreseeability

A legal principle referring to the predictability or anticipation of risks at the time of a contractual agreement.

Proximate Cause

Legal cause; exists when the connection between an act and an injury is strong enough to justify imposing liability.

Reasonable Care

The degree of caution and concern an ordinarily prudent and rational person would use in similar circumstances.