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Author Question: The additional satisfaction that a consumer receives from one more unit of a good or service is ... (Read 228 times)

PhilipSeeMore

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on: Jun 30, 2018
The additional satisfaction that a consumer receives from one more unit of a good or service is known as _____.
 a. marginal utility
  b. total utility
  c. disutility
  d. profit
  e. the law of diminishing marginal utility

Question 2

The marginal cost of a good is:
 a. the difference between average total cost and average variable cost.
 b. the addition to total cost from producing one more unit of output.
 c. decreasing whenever average total cost is decreasing.
 d. always equal to average variable cost when the firm is maximizing profit.


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Briannahope

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Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

b


PhilipSeeMore

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Reply #2 on: Jun 30, 2018
Thank you


Briannahope

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Reply #3 on: Jun 30, 2018
No problemo


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