In Economic Theory,total Utility Refers To

question 26

Multiple Choice

In economic theory,total utility refers to:

• A) The additional utility from consuming the last unit of a good.
• B) The amount of utility obtained from the entire consumption of a good.
• C) The change in utility from the last unit sold.
• D) How useful a good is to the consumer.

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Definitions:

Gastrovascular Cavity

A saclike gut that also functions in gas exchange.

Cnidarians

A phylum of aquatic invertebrates known for their distinctive body structure featuring a jelly-like substance called mesoglea, and their tentacles equipped with cnidocytes for prey capture and defense.

Flatworms

A phylum of simplistic, soft-bodied invertebrate animals known for their flattened shape, including both free-living species like planarians and parasitic species.

Mollusks

A diverse group of invertebrates including snails, octopuses, and clams, known for their soft bodies, some with hard shells.