What Is Marginal Utility

question 58

Multiple Choice

What is marginal utility?

• 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:

Adversarial System

A legal system where two opposing parties present their arguments and evidence in court, and a neutral third party (judge or jury) adjudicates.

Concerned

Reflects a state of being worried, anxious, or interested about something.

Ethical Misconduct

Actions or behavior by an individual or organization that violates ethical standards or principles.

Frequently Discipline

A regular and consistent application of rules and penalties to maintain order and correct behavior.