When Total Utility Is at a Maximum, Marginal Utility Is

question 72

Multiple Choice

When total utility is at a maximum, marginal utility is:

• A) zero.
• B) positive.
• C) negative.
• D) one.

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Definitions:

Groupthink

A psychological phenomenon that occurs within a group of people, in which the desire for harmony or conformity results in an irrational or dysfunctional decision-making outcome.

Transactive Memory

Transactive memory is a psychological concept explaining how groups collectively store, recall, and share knowledge through the relationships among members.

Metastatements

Communications that provide commentary about other statements, often clarifying or interpreting them.

Persuasive Arguments Theory

View that people in groups are persuaded by novel information that supports their initial position, and thus become more extreme in their endorsement of their initial position.