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: Think about a favorite thing you often buy or enjoy. It could be your favorite food, a favorite…

A: Suppose I buy chocolates in the course of a day. The largest utility I get is from consuming the…

Q: True/False Marginal utility keeps falling with the each additional consumption of a good or…

A: Economists uses the concept of marginal utility to determine how much of a product consumers are…

Q: What is marginal utility.

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

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 marginal utility for the third unit of X is 60 utils, and the marginal utility for the fourth…

A: The law of diminishing marginal utility states that  as consumer consumes more and more of a good,…

Q: When marginal utility is positive, total utility____

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

Q: How to compute Marginal Utility.

A: Utility refers to the total amount of satisfaction derived from the consumption of a good or…

Q: Is it possible for marginal utility to be negative while total utility is positive

A: The total utility (TU) can be understood as the total satisfaction that is derived from consumption…

Q: Explain the relationship between marginal utility and the total utility with the help of a diagram.

A: In economics, utility refers to the satisfaction that an individual receives from the consumption of…

Q: Define and explain the relationship between total utility, marginal utility, and the law of…

A: Law of diminishing marginal utility states as other factors are constant, rise in consumption will…

Q: Number of Units 1 W|N 2 3 4 Total Utility 40 80 140 182 222

A: Utility refers to the happiness or satisfaction that an individual get from the consumption of a…

Q: Positive marginal utility is when the marginal utility increases the total utility whereas negative…

A: Utility is characterised as the entire satisfaction a customer experiences when utilising a good or…

Q: If marginal utility is declining but still positive, total utility is increasing.  True or false…

A: The utility is the satisfaction received from consuming a good or service.

Q: Describe the point at which a consumer maximizes utility.

A: A rational consumer is going to be in equilibrium when his utility is maximized within a given…

Q: xplain the difference between marginal utility and total utility

A: Utility is a term referring to the overall satisfaction obtained from consuming a good or service.

Q: If at a quantity consumed of 1 unit, total utility equals 25 and marginal utility equals 25, and at…

A: Given  Total Utility when 1 unit is consumed TU(1)=25 Marginal utility of second unit MU(2)=20 Total…

Q: How can one's choice of purchases/consumption be infuenced by utility or marginal utility?

A: Consumer choice is a basic of consumer choice theory. Which explains what will a consumer demand or…

Q: When does marginal utility become 1) Negative 2) zero Explain

A: According to the given question In the simple words we can say that the marginal utility is the…

Q: Diminishing Marginal Utility. Explain the law of diminishing marginal utility Discuss an instance…

A: The idea of marginal utility is used to measure how individuals' satisfaction levels affected their…