Total Utility Increases If One More Unit of a Product

question 98

True/False

Total utility increases if one more unit of a product is purchased and marginal utility is positive.

---

Definitions:

Indefinite Offer

An offer in a contract that lacks specific, essential details, making it unclear or not concluded.

Material Terms

Essential provisions or clauses in a contract that are crucial to the performance of the agreement and integral to the contract’s objectives.

Market Price

The current price at which an asset or service can be bought or sold in the market.

Signed Memo

A written document that has been signed by the author or parties involved, often serving as a record or agreement.