Kaile Earns $10 as a Lab Technician

question 24

True/False

Kaile earns $10 as a lab technician.She can work up to 60 hours per week but usually works 35 hours.She spends several hours every week reading in the park.She says that she likes this because it is free.Kaile is right: sitting in the park with a book is costless.

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Definitions:

Total Utility

The overall satisfaction or value that a consumer derives from consuming a certain quantity of goods or services.

Units

In economics, a quantifiable measure used to express the quantity of goods or services.

Satisfaction

A measure of how goods and services supplied by a company meet or surpass customer expectation.

Pleasure

A state of feeling pleased or satisfied, often resulting from the fulfillment of a desire or need.