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:

Budget Period

The time frame for which a budget is planned and implemented, often one fiscal year.

One Month

A period of time extending roughly from a specific date in one calendar month to the corresponding date in the next calendar month.

One Year

A period consisting of 12 consecutive months or 365 days.

Budget Period

A specific time frame for which financial planning, expenditure, and allocations are made and tracked.