Marginal Utility

question 36

Multiple Choice

Marginal utility:

• A) is the change in a consumer's utility resulting from the addition of a very small amount of some good.
• B) is the total utility a resulting from consuming some good, divided by the amount consumed.
• C) is the change in a consumer's utility resulting from the addition of a very small amount of some good, divided by the amount added.
• D) is the change in a consumer's utility resulting from the addition of a very small amount of some good, divided by the total amount being consumed.

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Definitions:

Prepared

The state of having something ready for use or consideration, often used in the context of financial documents or plans.

Adjusted Trial Balance

A list of all accounts and their balances after adjusting entries are made, used to prepare financial statements.

Liabilities

The rights of creditors that represent debts of the business.

Period

Period refers to a length or portion of time, often defined in the context of financial reporting or cycles.