Total Utility

question 92

Multiple Choice

Total utility

• A)diminishes as the quantity consumed of a good increases.
• B)increases as long as more goods are acquired.
• C)increases as long as marginal utility increases.
• D)increases as long as marginal utility is positive.
• E)diminishes as consumption of some good rises.

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Definitions:

Trade Discount

A reduction in the listed price of goods or services offered by a seller to buyers in the same trade.

List Price

The official selling price of a product or service announced by a manufacturer or service provider before any discounts or promotions.

Trade Discount

A reduction in the listed price of goods or services offered by sellers to buyers in the same trade, often based on volume or early payment.

Manufacturer's Suggested Retail Price

The price that a product’s manufacturer recommends it be sold for at the retail level.