The change in total utility after each additional unit of consumption is called:

Satisfaction

Value

Marginal utility

Benefit

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Chika IlonahLv10

26 Oct 2020

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Related questions

13. In economics, the term marginal utility is defined as the a. change in total satisfaction caused by the consumption of an additional unit of the good. b. average utility of each unit of a good consumed. c. inverse of the measure of total utility. d. total satisfaction received from consumption of a good. e. price of the last unit consumed.

The total satisfaction one gets from one's consumption of a product is called:

1. Which of the following defines marginal utility?

A. the change in total utility divided by the price of a product

B. the maximum amount of satisfaction from consuming a product

C. the total satisfaction received from consuming as much of the product that is available for consumption

D. the additional satisfaction received from consuming one more unit of a product