The conceptual measure of the satisfaction a person obtains by

The conceptual measure of the satisfaction a person obtains by consuming a given quantity of a good or service during a given time period is:
A)  average product.
B)  marginal cost.
C)  marginal revenue.
D)  total utility.


Assume that the total utilities corresponding to the first five units of a product consumed are 10, 15, 19, 22, and 24, respectively. The marginal utility of the third unit is:
A)  19.
B)  15.
C)  4.
D)  3.


Which of the following statements is true because of the law of diminishing marginal utility?
A)  When a customer continues to eat more pie at the Pie Palace, each additional piece of pie gives a larger amount of marginal utility.
B)  When a customer continues to eat more pie at the Pie Palace, each additional piece of pie gives a smaller amount of marginal utility.
C)  The marginal utility of a piece of pie is maximum when the total utility of pie is zero.
D)  The total utility of pie is at a maximum while the marginal utility of pie is still increasing.