Which of the Following Is True

question 135

Multiple Choice

Which of the following is true?

• A) Total utility is the aggregate level of satisfaction that results from consumption of a given number of goods and services.
• B) Marginal utility is the additional satisfaction generated by the last unit of a good that is consumed.
• C) Total utility equals marginal utility of the last unit times the number of units consumed.
• D) Both a. and b. are true.

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Definitions:

Regression Equation

A mathematical equation that describes the linear relationship between an independent variable and a dependent variable.

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A singer and actor from the United States known for his success in salsa and Latin pop music.

Predicted Values

The estimates or outcomes produced by a model, based on the input variables.

Residuals

The variations between the actual values and the ones forecasted in regression analysis.