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
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
Chapter6: Consumer Choice And Demand
Section: Chapter Questions
Problem 1.2P
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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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd3db6577-fdb8-4ca1-81d6-8693d7912323%2Fe872c78d-42c9-43bb-b619-0623a860cdf6%2F0faq0u.jpeg&w=3840&q=75)
Transcribed Image Text: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
Expert Solution
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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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