As an individual's consumption of a good increases
A) his or her total utility increases.
B) his or her marginal utility increases.
C) the price of the good increases.
D) All of the above answers are correct.
A
Economics
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Which of the following would lead GDP to overstate economic welfare?
A) the existence of home-cooked meals B) restaurant workers that under-report tip income C) a self-employed CPA who takes a longer than normal vacation D) electric utilities that switch to burning coal because of higher natural gas prices and thereby create more acid rain pollution
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A bank creates money
A) never since it only lends out money it owns. B) when it makes loans. C) when it prints bank notes. D) when it pays out reserves.
Economics