Which of the following statements about marginal utility is correct?
a. When marginal utility is negative, an increase in the quantity will increase total utility.
b. When marginal utility is decreasing, an increase in quantity will decrease total utility.
c. When marginal utility is positive, an increase in quantity will decrease total utility.
d. When marginal utility is zero, an increase in quantity will leave total utility unchanged.
e. When total utility is increasing, marginal utility will be negative.
d
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"Trade liberalization should precede capital account liberalization." Discuss
What will be an ideal response?
For the typical consumer, present consumption is
a. preferred to future consumption b. not preferred to future consumption c. preferred to future saving d. not preferred to future saving e. financed out of present saving