"Diminishing marginal utility means a downward sloping total utility curve." True or false? Explain
Indicate whether the statement is true or false
False. Diminishing marginal utility means a downward sloping marginal utility curve. A total utility curve stays upward-sloping as long as marginal utility is positive.
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The rate of change in GDP over time is called the:
A. price accelerator. B. output generator. C. Gini coefficient. D. economic growth rate.
Mutual funds that attempt to mimic the performance of a broad market index, such as the Dow Jones Industrial Average, are known as:
a. socially responsible funds. b. index funds. c. equity funds. d. fixed-income funds. e. money market funds.
According to the model of supply and demand, an increase in the price of milk will cause a
A. leftward shift in the supply for milk. B. rightward shift in the supply for cheese. C. rightward shift in the demand for cheese. D. leftward shift in the supply for cheese.
The slope of the production possibilities curve is:
A. positive. B. positive and increasing. C. positive and decreasing. D. the opportunity cost of one good in terms of the other.