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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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 ________________________.
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