Refer to the above diagram. Marginal utility:
A) increases at an increasing rate.
B) becomes zero at 4 units of output.
C) is found by dividing total utility by the number of units purchased.
D) cannot be calculated from the total utility information.
Ans: B) becomes zero at 4 units of output.
Economics
You might also like to view...
Employment protection laws make it harder for employees to lose their jobs and as a result, these laws reduce structural unemployment
Indicate whether the statement is true or false
Economics
Does the short-run Phillips curve have a positive or negative slope? Explain how this slope is derived
What will be an ideal response?
Economics