If Marginal Utility Is Negative,total Utility Declines but Is Not

question 118

True/False

If marginal utility is negative,total utility declines but is not necessarily negative.

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Definitions:

Marginal Social Benefit

The additional benefit to society from consuming or producing one more unit of a good or service.

Marginal Social Cost

The extra expense borne by the entire society resulting from the manufacture of an additional unit of a product or service.

Trade Permits

Legal documents or licenses required to engage in certain types of trade or business, often used to regulate or protect industries.

Pollution Reduction

Pollution reduction refers to strategies and activities aimed at decreasing the amount of pollutants released into the environment.