If total utility of a good is high while the price of the good is low, it is likely that the good
A)is plentiful.
B)is inferior.
C)is rare.
D)has high marginal utility.

Question

Quizplus · Accepted Answer

When the total utility of a good is high and its price is low, it typically indicates that the good is plentiful, meaning it is widely available and not scarce. This abundance usually results in a lower price due to the basic principles of supply and demand.

If Total Utility of a Good Is High While the Price