What Is Marginal Utility

question 28

Multiple Choice

What is marginal utility?

• 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:

Conflict

A situation or condition where there is a clash of interests, values, actions, or directions.

Approach-Approach

A choice between two equally attractive options, leading to conflict as the individual must forsake one attractive option.

Major Stress

A substantial or significant form of stress that impacts an individual's psychological or physical well-being.

Vulnerability

The quality or state of being exposed to the possibility of being attacked or harmed, either physically or emotionally.