The Term Marginal Utility Denotes the Amount by Which ________

question 78

Multiple Choice

The term marginal utility denotes the amount by which ________ changes when consumption changes by ________ unit(s) .

• A)total utility; 1
• B)demand; 10
• C)demand; 1
• D)total utility; 10

---

Definitions:

Efficient Production

A process that maximizes output with the minimum amount of input, using resources in the most effective manner to achieve the highest level of productivity.

Tariff Revenue

Income generated by a government from imposing import taxes on goods brought into the country.

Domestic Price

The price of goods or services within a country's borders, influenced by local supply and demand conditions.

Free Trade

refers to international trade left to its natural course without tariffs, quotas, or other restrictions.