Which of the following statements is true?
A)An extra dollar earned by a millionaire necessarily brings him or her less utility than an extra dollar earned by a poor person.
B)If marginal utility is constant, then total utility for two units of a good is equal to the marginal utility of the second unit of the good.
C)The marginal and total utility of a good are the same for the first unit of the good.
D)Total utility will rise if marginal utility is negative.
E)a and c

Question

Quizplus · Accepted Answer

The marginal and total utility of a good are the same for the first unit of the good because the first unit's marginal utility is the total utility gained from consuming that unit.

Which of the Following Statements Is True