When Marginal Utility Is Positive but Decreasing, Total Utility Is

question 254

Multiple Choice

When marginal utility is positive but decreasing, total utility is

• A) decreasing.
• B) negative.
• C) increasing.
• D) zero.

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Definitions:

Demand

The quantity of a product or service that consumers are willing and able to purchase at various prices during a specified period.

Forecasting Model

A mathematical or statistical model used to predict future events or trends based on historical data.

Seasonal Indices

Factors used in time series analysis to adjust predictions for seasonal effects, allowing for more accurate forecasting.