"Diminishing marginal utility means a downward sloping total utility curve." True or false? Explain
Indicate whether the statement is true or false
False. Diminishing marginal utility means a downward sloping marginal utility curve. A total utility curve stays upward-sloping as long as marginal utility is positive.
Economics
You might also like to view...
Required reserves are the portion of deposits banks are required to hold and not lend to customers
Indicate whether the statement is true or false
Economics
Suppose the price of leather used to produce shoes increases. The higher price of leather ________ the supply of shoes and the supply curve of shoes ________
A) increases; shifts rightward B) increases; shifts leftward C) decreases; shifts rightward D) decreases; shifts leftward E) does not change; does not shift
Economics