Ask Question
BusinessBusiness
5 May, 01:38

Which of the following statements is correct? rev: 04_09_2018 Multiple Choice Total utility is the product of multiplying price times marginal utility. Total utility is the sum of marginal utilities. Total utility is the change in marginal utility as quantity consumed increases. Marginal utility is the sum of total utility.

+1
Answers (1)
  1. 5 May, 03:33
    0
    Answer: Option (B) is correct.

    Explanation:

    Total utility refers to the total satisfaction level that a consumer can get from consuming all the units of a commodity.

    Marginal utility refers to the utility that a consumer can get from consuming an additional unit of a commodity.

    Therefore, the sum of these marginal utilities is nothing but the total utility or we can say that overall utility that a consumer can get from the consumption of a commodity.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Which of the following statements is correct? rev: 04_09_2018 Multiple Choice Total utility is the product of multiplying price times ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Which of the following statements does NOT accurately describe a line of credit? a. A line of credit is available immediately when needed. b. A line of credit provides an alternative source of funds if an emergency does develop. c.
Answers (1)
A negative cost variance combined with a negative schedule variance is an indicator of
Answers (1)
What is a hock on a cow
Answers (2)
Ariel holds a $5,000 portfolio that consists of four stocks. Her investment in each stock, as well as each stockâs beta, is listed in the following table: Stock Investment Beta Standard Deviation Andalusian Limited (AL) $1,750 0.90 18.
Answers (1)
In an imaginary economy, consumers buy only razors and cologne. The fixed basket consists of 6 razors and 4 bottles of cologne. A razor cost $20 in 2009 and $25 in 2010. A bottle of cologne cost $30 in 2009 and $40 in 2010.
Answers (1)
New Questions in Business
On November 1, 2018, Cullumber Farm entered into a contract to buy a $162000 harvester from John Deere. The contract required Cullumber Farm to pay $162000 in advance on November 1, 2018.
Answers (1)
Which of the following is an advantage corporations enjoy over sole proprietorships? O A. Corporations have an easier time raising money to start or expand a business. O B.
Answers (1)
The following events pertain to Super Cleaning Company 1. Acquired $16,300 cash from the issue of common stock. 2. Provided $14,300 of services on account3. Provided services for $5,300 cash. 4.
Answers (1)
n certain circumstances, a taxpayer who provides less than half the support of another may still be able to claim that person as a dependent as a qualifying relative. True/false
Answers (1)
According to Benjamin Lang what is the hardest thing about being an entrepreneur
Answers (1)
Home » Business » Which of the following statements is correct? rev: 04_09_2018 Multiple Choice Total utility is the product of multiplying price times marginal utility. Total utility is the sum of marginal utilities.
Sign Up Forgot Password?