Total Utility Is Maximized When Marginal Utility Per Additional Dollar

question 64

True/False

Total utility is maximized when marginal utility per additional dollar spent is the same for all goods.

---

Definitions:

Group Processes

Refers to how an organization's members or the members of any collective group interact with one another, share information, make decisions, and function collectively.

Interpersonal Processes

The mechanisms and dynamics through which individuals interact and communicate with each other within varying contexts.

Organizational Strategy

A plan of action designed to achieve long-term or overall aims and objectives of an organization.

OD Practitioners

Professionals involved in organizational development who facilitate change and improve organizations’ effectiveness through research and application of behavioral science methods.