Asked by
Logan Adams
on Nov 04, 2024
Verified
Marginal utility is the ________ satisfaction gained by consuming ________ of a good.
A) total; all units
B) total; one more unit
C) additional; all units
D) additional; one more unit
Marginal Utility
The additional satisfaction or utility that a person receives from consuming an additional unit of a good or service.
- Acquire knowledge of the marginal utility concept and its fluctuating nature depending on consumption.
- Acquire knowledge on the diminishing returns of utility and their influence on consumer preferences.
Verified Answer
MH
Learning Objectives
- Acquire knowledge of the marginal utility concept and its fluctuating nature depending on consumption.
- Acquire knowledge on the diminishing returns of utility and their influence on consumer preferences.