A Percentile Rank Is a Cumulative Percentage Distribution Summed from the Bottom

question 79

True/False

A percentile rank is a cumulative percentage distribution summed from the bottom up.

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Definitions:

Marginal Utility

The additional satisfaction or utility gained by consuming an additional unit of a good or service.

Total Utility

The total satisfaction or benefit a person receives from consuming a certain quantity of goods or services.

Marginal Utility

The extra pleasure or benefit gained by a person from consuming one more unit of a product or service.

Total Utility

The total satisfaction or benefit derived by a consumer from consuming a particular quantity of goods or services.