Which Statement Is FALSE

question 253

Multiple Choice

Which statement is FALSE?

• A) To calculate total utility, sum the marginal utilities of the individual units consumed.
• B) Marginal utility is usually smaller than total utility.
• C) Marginal utility generally diminishes as more of a good is consumed.
• D) The consumer is assumed to maximize marginal utility.

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Definitions:

Commercial Office

A workspace designated for activities related to business, administrative tasks, or professional services.

Books

Official records kept by a company detailing its financial transactions, assets, and liabilities.

Lien

In its most extensive meaning, it is a charge on property for the payment or discharge of a debt or duty; a qualified right; a proprietary interest that, in a given case, may be exercised over the property of another.

Charge Against Property

A claim or encumbrance against real estate used as collateral for debt repayment or obligation fulfillment.