What is the definition of marginal utility?Part 2

A.

The average utility from consuming a good or service multiplied by the number of units of that good or service consumed.

B.

Utility measured in utils.

C.

The change in utility from consuming an additional unit of a good or service.

D.

The enjoyment or satisfaction people receive from consuming goods and services.

E.

The utility from consuming a good or service divided by the number of units of that good or service consumed.

Part 3The law of diminishing marginal utility suggests thatPart 4

A.

consumers experience

diminishingadditionalsatisfaction

on lower budget constraints.

B.

consumers experience less total satisfaction from inferior goods than from normal goods.

C.

consumers experience

diminishingadditionalsatisfaction

from a good or service over time.

D.

consumers experience less total satisfaction as they consume more of a good or service.

E.

consumers experience diminishing additional satisfaction as they consume more of a good or service.

Part 5Marginal utility is more useful than total utility in consumer decision making becausePart 6

A.

optimal decisions are made at the margin.

B.

consumers maximize utility by maximizing marginal utility from each good.

C.

consumers maximize utility by equalizing marginal utility from each good.

D.

it is possible to measure marginal utility but not total utility.

E.

optimal decisions are made by consuming until marginal utility becomes negative.