The Concept of Marginal Utility

question 4

Multiple Choice

The concept of marginal utility:

• A) explains why individuals find it difficult to maximize their total utility.
• B) is the change in total utility that comes from consuming one additional unit of a good or service.
• C) can only be applied to situations in which individuals can choose among several goods or services.
• D) is the loss in utility from making a bad decision.

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Definitions:

Triglyphs

Architectural elements used in the frieze of Doric order temples, consisting of three vertical grooves which alternate with metopes.

Metopes

The square spaces, often decorated with relief sculpture, between the triglyphs in a Doric frieze.

Doric

One of the two systems (or orders) invented in ancient Greece for articulating the three units of the elevation of a classical building—the platform, the colonnade, and the superstructure (entablature). The Doric order is characterized by, among other features, capitals with funnel-shaped echinuses, columns without bases, and a frieze of triglyphs and metopes. See also Ionic.

Twisting Torso

A skyscraper in Malmö, Sweden, designed by Spanish architect Santiago Calatrava, characterized by its unique twisting, sculptural form inspired by the human body in motion.