The amount by which total utility increases (or decreases) when an additional unit of a good is consumed is called utility. average O marginal
The amount by which total utility increases (or decreases) when an additional unit of a good is consumed is called utility. average O marginal
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter6: Consumer Choices
Section: Chapter Questions
Problem 8RQ: Is it possible for total utility to increase while marginal utility diminishes? Explain.
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