A rational consumer should not consume more of a good when:
A) total utility is decreasing.
B) marginal utility is diminishing.
C) the price is high.
D) income is decreasing.
Correct Answer:
Verified
Q10: The term utility refers to the:
A) pleasure
Q11: If water is essential for life, while
Q12: When total utility is at a maximum,
Q13: If total utility from consuming two cups
Q14: If total utility is falling, marginal utility
Q16: John loves to travel. He would never
Q17: If finding the last stamp to complete
Q18: Marginal utility is the change in:
A) total
Q19: On Thanksgiving, Jake's mother gives him a
Q20: Which of the following best describes the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents