Fuzzy glow derived from consumption of goods

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Reference no: EM131086072

Which of the following statements is correct?

i. utility refers to the satisfaction or fuzzy glow derived from consumption of goods

ii. utility and usefulness are synonymous (i.e., they have equivalent meanings)

iii. a good may yield utility when acquired but not be functionally useful

iv. the marginal utility from consuming an additional unit of a good will be positive, whereas the marginal utility of consuming an additional unit of a bad will be negative

Reference no: EM131086072

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