The Amount of Utility Obtained from the Entire Consumption of a Good

question 53

Multiple Choice

The amount of utility obtained from the entire consumption of a good is known as:

• A) Marginal utility.
• B) Diminishing utility.
• C) Total utility.
• D) Price elasticity.

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Definitions:

Sociobiology

A scientific field that studies social behaviors in terms of evolutionary biology, focusing on how such behaviors are genetically inherited and contribute to survival.

Gerontology

The scientific study of old age and aging.

Ontology

The philosophical study of the nature of being, existence, or reality, as well as the basic categories of being and their relations.

Morphology

The study of the form and structure of words and their parts in a language.