Asked by Adarsh Shukla on Jun 12, 2024

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The amount by which total utility _____ when an additional unit of a good is consumed is _____.

A) changes;average utility
B) increases;the income effect
C) decreases;maximum utility
D) changes;marginal utility

Marginal Utility

The change in total utility a person receives from consuming one additional unit of a good or service.

Total Utility

The total satisfaction received from consuming a particular quantity of a good or service.

Average Utility

The total utility received from a certain amount of goods or services divided by the number of goods or services consumed.

  • Comprehend the principle of marginal utility and its utilization in making consumer decisions.
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WJ
William JackmanJun 13, 2024
Final Answer :
D
Explanation :
The amount by which total utility changes when an additional unit of a good is consumed is referred to as the marginal utility. Therefore, the best choice is D - changes; marginal utility.