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- True/False Marginal utility refers to the satisfaction or pleasure that occur due to the additional consumption of one more unitTrue/False Utility refers to the total satisfaction or happiness that an individual get from consuming a product.A negative marginal utility implies that the consumer has reached a point of satiation.
- True or false. Maximizing choices occur when combinations of two goods are made such that they are affordable and achieve the highest indifference curve (i.e. the highest utility).utilities provided by product. Select 3 correct answer(s) Question options: Time Utility Functional Utility Phycological Utility Social UtilityPlease Show Each and Every Working VERY CLEARLY! utility
- A consumer attains maximum utility when: Select one: a) Marginal utility per dollar spent is positive for every good purchased b) Marginal utility per dollar spent is increasing for every good purchased c) Marginal utility per dollar spent is same for every good purchased d) Marginal utility per dollar spent is negative for every good purchased e) Marginal utility per dollar spent is decreasing for every good purchasedA consumer can maximize utility relative to their budget if they consume where Question 22 options: they spend the least money possible. marginal utility has fallen to zero. they buy an equal number of all goods. marginal utility per dollar for all goods are equal.True/ False Marginal utility decline with the increase in the unit of consumption of a good.
