Marginal Utility Is Defined as the

question 10

Multiple Choice

Marginal utility is defined as the

• A)average amount of satisfaction gained from consuming a product
• B)total amount of satisfaction gained from consuming a product
• C)additional satisfaction gained from consuming one more unit of a product
• D)total amount of satisfaction gained from consuming a product divided by the number of units consumed
• E)total amount of satisfaction gained from consuming a product times the number of units consumed

---

Definitions:

Analysis of Variance

A statistical method used to compare the means of three or more samples to find out if at least one is significantly different from the others.

Population Means

The average value of a particular characteristic across all members of a defined population.

Independent Random Sampling

A method of sampling where each member of the subset is chosen randomly and entirely by chance, ensuring that every subset of the population has an equal opportunity of selection.

Pooled Estimator

A method to estimate a common mean or variance from several different populations by combining or pooling sample statistics.