Complete each of the following sentences: Your tastes determine the _____________ you derive from consuming a particular good. _______________ utility is the change in ________________ utility resulting from a _______________ change in the consumption of a good. As long as the marginal utility is positive, total utility is ____________________________. The law of diminishing marginal utility states that as an individual consumes more of a good during a given time period, other things constant, total utility ________________________.

Complete each of the following sentences: Your tastes determine the _____ you derive from consuming a particular good. _ utility is the change in __ utility resulting from a _ change in the consumption of a good. As long as the marginal utility is positive, total utility is . The law of diminishing marginal utility states that as an individual consumes more of a good during a given time period, other things constant, total utility __.

Microeconomics A Contemporary Intro

10th Edition

ISBN:9781285635101

Author:MCEACHERN

Publisher:MCEACHERN

Chapter6: Consumer Choice And Demand

Section: Chapter Questions

Problem 2QFR

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