When marginal utility is decreasing but positive, total utility is a increasing at a decreasing rate b increasing at an increasing rate c decreasing at a decreasing rate

Q: Total utility is 0 when marginal utility is 0 True/False

A: # Utility is a concept which helps us calculate the satisfaction a consumer gets when a good or…

Q: Q- Marginal utility can never be negative. True/False

A: Total utility is the total satisfaction that a consumer derives when he consumes goods and services.…

Q: Define and explain marginal utility

A: Definition A consumer's increased enjoyment from having one more unit of an item or service is…

Q: Calculate the marginal utility .. # of cookies per day           Total Utility per Day 0…

A: Utility refers to the satisfaction. The aim of the consumer is to maximize the utility. Total…

Q: Explain the relationship between the law of diminishing marginal utility and the law of demand.

A: Law of demand: It explains an inverse relationship between the quantity demanded and price, keeping…

Q: The table shows a consumer's utility schedule.   Number of Units Consumed Total Utility 0 0 1 4 2…

A: The measure that in turn depicts the total satisfaction being received from the consumption of goods…

Q: Give a numerical example that illustrates total utility rising as marginal utility declines.

A: Total Utility: - the total utility is the aggregate utility derived by the consumption of a good.…

Q: The marginal utility derived from the consumption of extra unit of commodity. True/False

A: Utility in economics refers to the pleasure or usefulness that a person gets from consuming a good…

Q: explain law of diminishing marginal utility concept with example.

A: According to the law of diminishing marginal utility, as we consume more of a good, the amount of…

Q: As an individual consumes more and more of a good, each additional unit brings about less and less…

A: Marginal Utility refers to the additional satisfaction derived from consumption of an additional…

Q: If something has negative marginal utility, what happens to your total utilitywhen you consume it?

A: Marginal utility is defined as the utility gains after one more extra unit of consumption. It means…

Q: Marginal utility can be:             decreasing, but not negative.             positive, but not…

A: 1. Marginal utility can be C.Positive, negative or zero Marginal utility is an important concept…

Q: How do your total and marginal utility change as you stay at home watching the same TV show (not…

A: The objective of the question is to understand how total and marginal utility change as a person…

Q: What is the shape of the marginal utility curve?

A: Marginal utility is the additional utility that an individual derives from the consumption of one…

Q: Explain the difference between the following concepts: Cardinal and ordinal measures of utility…

A: The utility is the wants satisfying power of a product.  A consumer uses goods or services because…

Q: Law of equi marginal utility is an important law of cardinal utility analysis. Explain this law with…

A: Cardinal Utility analysis is one of the oldest demand theory. It explains the law of demand that…

Q: According to the law of diminishing marginal utility: Omarginal utility falls with the extra…

A: The law of diminishing marginal utility depicts that the marginal utility derived from each extra…

Q: Describe the concept of diminishing marginal utility while also providing an example.

A: Marginal utility is the benefit gained from consuming one additional unit of a product or service.

Q: additive utility O ignoring sunk cost rational optimization diminishing marginal utility

A: Utility, in the context of economics, describes the satisfaction, happiness, or well-being that an…

Q: Suppose it is “All You Can Eat” Night at your favorite restaurant. Once you’ve paid $69.95 for your…

A: Utility refers to the satisfaction attained from the consumption of goods. The aim of the consumer…

Q: The amount by which total utility increases (or decreases) when an additional unit of a good is…

A: The utility is the wants satisfying power of a good or service. When a consumer buys a good, he/she…

Q: explain law of diminishing marginal utility concept with exampl

A: The additional pleasure or benefit (utility) a customer obtains by acquiring an extra unit of a…

Q: Explain the law of marginal utility. What is its importance in understanding the preference of…

A: Utility refers to the usefulness or value of a product or service to a consumer. It can also refer…

Q: The total utility schedule of Sharon is given below for the number of shoes she  consumes.  i.…

A: Marginal Utility is the level of satisfaction derived from consumption of an additional unit of a…

Q: Utility is given by the function U(x,y) = x0(y + 4)0³. a. Calculate the marginal utility of x in…

A: Marginal utility is the addition to the total utility when one more unit is purchased.  Marginal…

Q: please explain the theory of marginal utility. Please include a particular product or service you…

A: In economics, utility refers to the entire pleasure derived from the consumption of an item or…

Q: How do indifference curves represent the consumer's preferences?

A: The indifference curve is a mathematical representation of the combination of all the consumption…

Q: What happens to marginal utility at the point where total utility is decreasing? Answers: a.…

A: Utility is the fulfillment or advantage inferred by devouring an item; in this manner the minimal…

Q: What is the law of diminishing utility? Explain with proper example.

A: The want satisfying power of a commodity is referred to as the utility.

Q: When marginal utility is positive, total utility____

A: Marginal utility is the additional utility derived from having an additional unit of commodity.…