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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

Is it possible for total utility to increase while marginal utility diminishes? Explain.

To determine

Is it possible for total utility to increase while marginal utility diminishes? Explain.

Explanation

Yes, it possible for total utility to increase while marginal utility diminishes. As marginal utility is the utility derived when one more unit is consumed. So the total will rise but the marginal will diminish. As, the subsequent unit consumed provides less additional utility.

Marginal utility will fall with an additional consumption of a good because the first thing that we choose usually is our favorite and then we usually choose the ones that are just extras, not the one that is our favorite...

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