Which of the Following Is True

question 72

Multiple Choice

Which of the following is true?

• A) A good for which the marginal utility of the last unit of a good consumed is greater will provide more total utility from consumption of the good.
• B) If marginal utility is positive but diminishing, total utility increases with consumption of a good.
• C) If marginal utility is diminishing, total utility must be diminishing.
• D) Total utility is equal to the change in marginal utility from consuming an added unit of a product.

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Definitions:

British Pounds

The currency of the United Kingdom, symbolized as GBP, and commonly referred to as the pound sterling.

Supply

The total amount of a good or service that is available for purchase at various prices in a given market.

Japanese Yen

The official currency of Japan, used as a medium of exchange and a standard of value within the country.

Upsloping

Describes a curve or line on a graph that shows an increase in value or quantity as it moves from left to right.