Marginal Utility Is

question 68

Multiple Choice

Marginal utility is

• A)the change in total utility divided by the price of the last unit of a good or service consumed.
• B)the change in total utility a person receives from consuming an additional unit of a good or service.
• C)the utility from consuming a given quantity of a good or service.
• D)the decrease in total utility from consuming more and more units of a good or service.

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Definitions:

Pregnant

The state of carrying developing offspring within the body after conception.

Psychosocial Development

A framework by Erik Erikson that describes how personal and social development progresses through eight predetermined stages over an individual's lifetime.

Soccer Team

A group of players formed to compete in the sport of soccer, consisting of both starting players and substitutes.

Erikson

refers to Erik H. Erikson, a developmental psychologist known for his theory on the psychological development of individuals across eight stages from infancy to adulthood.