The concept of marginal utility indicates the relationship between utility and _________?
ECONOMICS
JAMB 2016
The concept of marginal utility indicates the relationship between utility and _________?
- A. Price
- B. Satisfaction
- C. Cost
- D. Revenue
Correct Answer: B. Satisfaction
Explanation
utility is the satisfaction or benefit derived by consuming a product; thus the marginal utility of a goods or service is the change in the utilityfrom an increase in the consumption of that good or service
Post an Explanation Or Report an Error
If you see any wrong question or answer, please leave a comment below and we'll take a look. If you doubt why the selected answer is correct or need additional more details? Please drop a comment or Contact us directly. Your email address will not be published. Required fields are marked *