Question

The general pattern that consumption of the first few units of any good tends to bring a higher level of to a person than consumption of later units its a common pattern
a) marginal benefit
b) sunk costs
c) utility
d) opportunity cost

Answer 1

Answer:

(C) utility

Explanation:

Utility is defined as the full satisfaction and the complete fulfillment of need received from consuming a good or service.

And the consumption of the first few units of any good tends to bring a higher level of utility to a person than consumption of later units. For instance, Mr A might board a vehicle to quickly make up with an appointment. But some other time, such rides might provide less utility, maybe to just save time.