This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Marginal utility is defined as the a. average amount of satisfaction gained from consuming a ... (Read 88 times)

dollx

  • Hero Member
  • *****
  • Posts: 558
on: Jul 1, 2018
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

Question 2

Total utility can be calculated as the
 a. sum of all marginal utilities
  b. price paid for one unit of a good
  c. product of all marginal utilities
  d. total expenditure on all units of a good the consumer buys
  e. difference between the marginal utilities of the first and last units of a good


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

cascooper22

  • Sr. Member
  • ****
  • Posts: 312
Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

A


dollx

  • Member
  • Posts: 558
Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

mammy1697

  • Member
  • Posts: 341
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Normal urine is sterile. It contains fluids, salts, and waste products. It is free of bacteria, viruses, and fungi.

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Did you know?

Bisphosphonates were first developed in the nineteenth century. They were first investigated for use in disorders of bone metabolism in the 1960s. They are now used clinically for the treatment of osteoporosis, Paget's disease, bone metastasis, multiple myeloma, and other conditions that feature bone fragility.

Did you know?

About 3.2 billion people, nearly half the world population, are at risk for malaria. In 2015, there are about 214 million malaria cases and an estimated 438,000 malaria deaths.

A graphical representation of the marginal value theorem. A graphical representation of the marginal value theorem.
Spotted hyena cubs in Limpopo, South Africa. Note the well defined spots, which will fade with age Spotted hyena cubs in Limpopo, South Africa. Note the well defined spots, which will fade with age
At breakfast, a middle-class husband sits absorbed in the newspaper and the public affairs of the da At breakfast, a middle-class husband sits absorbed in the newspaper and the public affairs of the da
Behavior modification has been useful in raising the amount of social responding by children with ... Behavior modification has been useful in raising the amount of social responding by children with ...
Preload is related to the amount of blood and stretching of the ventricular myocardial fibers Preload is related to the amount of blood and stretching of the ventricular myocardial fibers
Average Number of Days per Year with Thunderstorms Average Number of Days per Year with Thunderstorms
Video: Rh blood type and complications during pregnancy & Fertilization

For a complete list of videos, visit our video library