________ Is the Additional Satisfaction a Person Receives from Consuming

question 242

Multiple Choice

________ is the additional satisfaction a person receives from consuming an extra unit of a good.

• A) Total utility
• B) Marginal utility
• C) Diminishing marginal utility
• D) Preferences

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Definitions:

Per-Unit Costs

The cost incurred to produce, manufacture, or acquire a single unit of a product or service.

Decrease

A reduction in size, quantity, or importance of something.

Technological Advancements

Progress in technology which results in new inventions and innovations that can improve the efficiency and productivity of systems.

Worker Productivity

Refers to the amount of goods and services that a worker produces in a given amount of time.