Which of the following is correct? Multiple Choice If marginal utility is diminishing, total utility must also be diminishing. If marginal utility is diminishing and is a positive amount, total utility will increase. There is no firm mathematical relationship between marginal utility and total utility. Total utility is equal to the change in marginal utility from consuming an additional unit of a product
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- **Marginal Utility (MU):** The additional satisfaction or utility gained from consuming one more unit of a good or service. - **Total Utility (TU):** The total satisfaction or utility gained from consuming a certain quantity of goods or services. Show more…
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Is it possible for total utility to increase while marginal utility diminishes? Explain.
1. When total utility increases, marginal utility is ________________ Group of answer choices minimum negatvie zero positive 2. Marginal utility can be: Group of answer choices positive, negative, but not zero. pdecreasing but not negative positive, negative, or zero. positive but not negative, or zero. 3. Which of the following is true about utility? Group of answer choices Utlity is subjective Utlity is same as usefulness Utility same for all the consumers Utility for a good is constant
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