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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

If a person consumes fewer units of a good, will marginal utility of the good increase as total utility decreases? Why or why not?

To determine

Identify the relation between total utility and marginal utility.

Explanation

The total utility is the overall satisfaction accrued by a consumer from all the units of a commodity, whereas the marginal utility is the additional utility accruing from consuming an additional unit. And also the marginal utility of the good will increase as the total utility decreases as long as the marginal uti...

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