If marginal utility is positive but diminishing, as more units of a good are consumed, then the total utility from the good must be
A) falling.
B) positive and rising at an increasing rate.
C) positive and rising at a decreasing rate.
D) positive and rising at any rate.
C
Economics
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An important characteristic of private goods is
A) the nonexclusion principle. B) the principle of rival consumption. C) the principle of joint consumption. D) the principle of conspicuous consumption.
Economics
If you are estimating your total expenses for school next semester, you are using money primarily as:
A. a medium of exchange. B. a store of value. C. a unit of account. D. an economic investment.
Economics