If marginal utility is positive but diminishing, then total utility must be ________ as consumption of the good increases
A) decreasing
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
You might also like to view...
Which account of the balance of payments is most likely to be directly affected by a rise in the domestic price level?
a. Current international transactions b. Net nonreserve-related international borrowing/lending c. Official reserve-related (central bank) transactions d. None.
Economics
In the Great Recession of 2007-2009, the stock market values shrank, causing a reverse:
A. Wealth effect
B. Real-balances effect
C. Interest-rate effect
D. Expectations effect
Economics