If Marginal Utility Is Diminishing, Then Total Utility Is Concave

question 11

True/False

If marginal utility is diminishing, then total utility is concave.

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Social Rank

The position or standing of an individual or group within the social hierarchy of a society.

Established Position

A status or rank within a group or society that is recognized and often secured based on factors such as experience, achievements, or seniority.

Role Set

All roles occupied by a person at a given time.

Gender

Socially learned expectations and behaviors associated with members of each sex.