Asked by
Britney Jones
on Oct 12, 2024Verified
As long as total utility is increasing,we know that marginal utility is
A) positive.
B) decreasing.
C) increasing.
D) negative.
Total Utility
The overall satisfaction or benefit received by consuming a product or service.
Marginal Utility
The additional satisfaction a consumer gains from consuming one more unit of a good or service.
- Absorb knowledge on how total and marginal utility contribute to consumption decision-making.
- Grasp the significance of marginal utility and how it relates to total utility increases or decreases.
Verified Answer
PP
Learning Objectives
- Absorb knowledge on how total and marginal utility contribute to consumption decision-making.
- Grasp the significance of marginal utility and how it relates to total utility increases or decreases.