This topic contains a solution. Click here to go to the answer

Author Question: Marginal utility is defined as the a. average amount of satisfaction gained from consuming a ... (Read 170 times)

dollx

  • Hero Member
  • *****
  • Posts: 558
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
Answer to Question 1

C

Answer to Question 2

A




dollx

  • Member
  • Posts: 558
Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)


kusterl

  • Member
  • Posts: 315
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

Did you know?

In the United States, an estimated 50 million unnecessary antibiotics are prescribed for viral respiratory infections.

Did you know?

There are over 65,000 known species of protozoa. About 10,000 species are parasitic.

Did you know?

Since 1988, the CDC has reported a 99% reduction in bacterial meningitis caused by Haemophilus influenzae, due to the introduction of the vaccine against it.

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

Did you know?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

For a complete list of videos, visit our video library