Explain how it is possible for marginal utility to fall while total utility is still on the rise?
What will be an ideal response?
Total utility is the sum of the marginal utilities of all previous units. Even if marginalutility is falling as long as it is still positive that will allow total utility to continue torise.
Economics
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During the past decade, U.S. imports of business services have ________, U.S. exports of business services have ________, and U.S. net exports of business services have ________
A) increased; increased; increased B) increased; decreased; decreased C) decreased; increased; increased D) increased; increased; not changed E) decreased; decreased; increased
Economics
If a tax is proportional, the average tax rate
A. remains the same as income rises. B. rises as income rises. C. falls as income rises. D. falls as income falls.
Economics