Marginal Utility Is

question 68

Multiple Choice

Marginal utility is

• A)the change in total utility divided by the price of the last unit of a good or service consumed.
• B)the change in total utility a person receives from consuming an additional unit of a good or service.
• C)the utility from consuming a given quantity of a good or service.
• D)the decrease in total utility from consuming more and more units of a good or service.

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Definitions:

Puritans

A religious group from the 16th and 17th centuries known for their desire to "purify" the Church of England and live according to their strict moral codes.

Converting Indians

The process, often led by missionaries, of attempting to convert Native Americans to Christianity during European colonization.

Christianity

A monotheistic religion based on the life and teachings of Jesus Christ, emphasizing salvation through faith and the importance of love and forgiveness.

Iroquois Confederacy

The Iroquois Confederacy, also known as the Haudenosaunee or Six Nations, was a powerful and sophisticated alliance of native tribes in northeastern North America, known for its significant cultural and governmental contributions.