If Marginal Utility Is Positive, Then Total Utility Is

question 54

Multiple Choice

If marginal utility is positive, then total utility is

• A)constant
• B)negative
• C)increasing
• D)decreasing
• E)0

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Definitions:

Socially Efficient

A situation in which resources are allocated in the most beneficial way from the perspective of society as a whole, considering both private and external costs and benefits.

Individual Resident

A person who inhabits a particular place, typically referring to living in a specific geographic area or dwelling.

Hire

The action of providing employment to someone; the act of engaging an individual for a job.

Marginal Cost

The additional cost resulting from the production of one more unit of a product or service.