Total Utility

question 161

Multiple Choice

Total utility

• A)cannot decrease as a person consumes more and more of a good.
• B)has a constant rate of increase as a person consumes more and more of a good.
• C)is equal to the sum of the marginal utilities of all units consumed.
• D)is negative when marginal utility is declining.

---

Definitions:

Normative Decision Model

A framework that suggests leaders determine the appropriate amount of employee participation based on specific situational variables.

Participative Leadership

A leadership style that involves all members of a team in identifying essential goals and developing procedures or strategies to reach those goals.

Subordinates

Refers to employees or team members who are lower in hierarchical position or rank compared to their supervisors or managers.

Delegation

The assignment of authority and responsibility from one person to another to carry out specific activities while the former remains accountable for the outcome.