Total Utility Increases If One More Unit of a Product

question 98

True/False

Total utility increases if one more unit of a product is purchased and marginal utility is positive.

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Definitions:

Economically Beneficial Uses

Refers to activities or applications that result in economic benefits or gains, such as profit from land or resource utilization.

Equal Protection Clause

A provision of the 14th Amendment to the U.S. Constitution requiring states to treat all individuals within their jurisdictions with equal application of the laws.

Dispute Resolution

A process for resolving disagreements or conflicts between parties through methods such as negotiation, mediation, arbitration, or litigation.

Mandatory Mediation

A required process where disputing parties attempt to resolve their conflict with the help of a neutral third-party mediator before proceeding to trial.