It Is Possible for Total Utility to Rise as Marginal

question 142

True/False

It is possible for total utility to rise as marginal utility falls.

---

Definitions:

Lot-For-Lot

An inventory management ordering policy where the order quantity is made exactly equal to the demand for the upcoming period.

Economical

Characterized by efficiency and avoidance of waste, in terms of both cost and resources.

Successful MRP Use

Refers to the effective application of Material Requirements Planning, a system for planning production and inventory control, to ensure timely availability of materials while minimizing inventory costs.

Materials Plan

A comprehensive strategy for managing the procurement, storage, and use of materials needed in the manufacturing process.