Marginal Utility

question 88

Multiple Choice

Marginal utility

• A) at first rises and then declines as a person consumes more of a good or service.
• B) can be thought of as being the equivalent to total utility.
• C) equals the total satisfaction from consumption of goods and services.
• D) is stable, but then as a person consumes more of a good or service, has a propensity to increase.

---

Definitions:

Standard Deviation

A measure of the dispersion or spread of data points in a data set around its mean value.

Confidence Level

The probability that a population parameter will fall between two set values for a certain proportion of times, often used in the context of confidence intervals.

Weekly Expenditure

The total amount of money spent during a week on various items or services.

Population Mean

The average of all the individuals or items in a population.