When marginal utility is decreasing but still positive, then total utility is
A) increasing at a decreasing rate.
B) negative.
C) decreasing.
D) increasing at an increasing rate.
Answer: A
You might also like to view...
A call option gives the owner the
A) right to sell the underlying security. B) obligation to sell the underlying security. C) right to buy the underlying security. D) obligation to buy the underlying security.
In 2001, the labor force participation rate of women was ________
a. about 10 percent. b. about 25 percent. c. just over 60 percent. d. more than 80 percent.
When consumers decide what goods and services the economy produces, they are said to exercise
a. control over production of resources b. control over all economic activity c. the direction of the circular flow d. consumer sovereignty e. control over nonrenewable resources
At price of $1.20, a local pencil manufacturer is willing to supply 150 boxes per day. At a price of $1.40, the manufacturer is willing to supply 170 boxes per day. Using the midpoint method, the price elasticity of supply is about
a. 2.0. b. 1.23. c. 1.00. d. 0.81.