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Katelyn Miley
on Oct 12, 2024

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When marginal utility is _________,total utility is _________.

A) positive;increasing
B) zero;maximized
C) negative;decreasing
D) All of the choices are correct.

Marginal Utility

Describes the additional satisfaction or usefulness obtained from consuming one more unit of a product or service.

Total Utility

The complete fulfillment experienced from the consumption of a specific overall amount of a product or service.

  • Apprehend the theory of marginal utility and its contribution to overall utility.
  • Identify the conditions under which consumer surplus and utility are maximized or minimized.
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Mohammad AladinOct 18, 2024
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