Marginal Utility Is the

question 296

Multiple Choice

Marginal utility is the

• A) total satisfaction that a person gets from the consumption of all of the units of a good consumed.
• B) change in satisfaction that results from a one-unit increase in the quantity of a good consumed.
• C) maximum price that a consumer is willing to pay for an additional unit of a good.
• D) additional cost to a consumer when an additional unit of a good is consumed.

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Definitions:

Biologically Primed

The concept that certain behaviors or responses are innately predisposed due to evolutionary history.

Acquired Fears

Fears that are developed after birth as a result of personal experiences or learning, rather than being innate.

Behavior Modification

A therapeutic approach that seeks to change undesirable behaviors through the use of reinforcement and punishment.

Conditioning Techniques

Methods used in behavioral psychology to teach or modify behaviors through the use of rewards or punishments.