Asked by
melanie pitcher
on Dec 05, 2024Verified
If total utility is rising as more salsa is consumed,we can definitely say that marginal utility is:
A) falling.
B) constant.
C) rising.
D) greater than zero.
Marginal Utility
The additional satisfaction or utility a consumer receives from consuming one more unit of a good or service.
Total Utility
The total satisfaction or benefit a consumer receives from consuming a particular quantity of a good or service.
Salsa
a spicy sauce of tomatoes, onions, and chili peppers commonly used in Latin American cuisine.
- Highlight the discrepancies between marginal utility and total utility.
Verified Answer
SG
Learning Objectives
- Highlight the discrepancies between marginal utility and total utility.