The following events apply to Oak Consulting for Year 2: Provided $71,000 of services on account. Incurred $2,600 of operating expenses on account. Collected $50,400 of accounts receivable. Paid $37,300 cash for salaries expense. Paid $14,040 cash as a partial payment on accounts payable. Paid a $8,400 cash dividend to the stockholders.

What is the difference between total utility and marginal utility? a. marginal utility is subject to the law of diminishing marginal utility while total utility is not. b. total utility represents the consumer optimum while marginal utility gives the total utility per dollar spent on the last unit. c. total utility is the total amount of satisfaction derived from consuming a certain amount of a good while marginal utility is the additional satisfaction gained from consuming an additional unit of the good. d. marginal utility represents the consumer optimum while total utility gives the total utility per dollar spent on the last unit.