Question

when an economist talks about utility, she is talking about
a company that provides electricity, water, gas, etc.
the satisfaction, in terms of price, that a producer receives from selling his product.
the satisfaction that results from the consumption of a good.
the amount of one good that a person is willing to give up in order to get a unit of another good.
the satisfaction that results from the consumption of a good minus the price that must be paid to get the good.

question 4
1 pts
according to the law of diminishing marginal utility:
consumers will purchase more of a good at a lower price, ceteris paribus.
consumers maximize total utility when the marginal utility per dollar spent is equal for all goods consumed.
each successive unit of a good consumed yields less additional utility.
consumers behave rationally when the price of a good equals the marginal utility of the good.

Explanation:

Utility in economics refers to the satisfaction or pleasure a consumer derives from consuming a good or service. The law of diminishing marginal utility states that as a consumer consumes more and more of a good, the additional satisfaction (marginal utility) from each additional unit decreases.

Answer:

For the first question: the satisfaction that results from the consumption of a good.
For the second question: Each successive unit of a good consumed yields less additional utility.