Marginal utility is the
A. additional utility obtained by a fall in the price of a good.
B. total amount spent to purchase one additional unit of a good.
C. additional utility obtained by consuming one additional unit of a good.
D. total happiness obtained from a consumption bundle.
Answer: C
You might also like to view...
In the figure above, U.S. consumers buy ________ airplanes per year at ________ million per airplane
A) 200; $150 B) 400; $100 C) 700; $150 D) 400; $150 E) 200; $100
The facility that was created in December of 2007 that banks can use to borrow from the Fed that has less of a stigma for banks compared to borrowing from the discount window is the
A) Term Securities Lending Facility. B) Term Auction Facility. C) Primary Dealer Credit Facility. D) Commercial Paper Funding Facility.
If real GDP increased and nominal GDP decreased during the same year, we could conclude that
a. the general price level increased during the year. b. the unemployment rate increased during the year. c. the general price level fell during the year. d. net exports were negative.
When marginal cost exceeds average total cost,
a. average fixed cost must be rising. b. average total cost must be rising. c. average total cost must be falling. d. marginal cost must be falling.