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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

Would you expect total utility to rise or fall with additional consumption of a good? Why?

To determine

Would you expect total utility to rise or fall with additional consumption of a good? Why?

Explanation

When there is more consumption of goods it will lead to a greater total utility but at a decreasing rate because people will be happy with what they are buying.

The total utility will increase but the rate will be diminishing because of the concept of diminishing marginal utility...

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