Q#9 X9.Marginal utility is defined as:The change to utility or satisfaction as consumption of a good remains constantThe change to utility or satisfaction as consumption of a good is increased by oneunitC.) The change to utility or satisfaction as consumption of a good decrease by oneunita.d. The change to utility or satisfaction as consumption of a good is increased bymany units

Answered: X9.Marginal utility is defined as: The…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Q#9

X9.Marginal utility is defined as:
The change to utility or satisfaction as consumption of a good remains constant
The change to utility or satisfaction as consumption of a good is increased by one
unit
C.) The change to utility or satisfaction as consumption of a good decrease by one
unit
a.
d. The change to utility or satisfaction as consumption of a good is increased by
many units

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The utility is the level of satisfaction that the consumer receives from consuming a commodity in the market. The utils is the unit in which the utility is being measured in the economy. When the consumer consumes a commodity or service from the market, it provides a certain level of satisfaction to the consumer which is known as the utility.

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