Chat with AI
Economics 11th Edition by William McEachern
Edition 11ISBN: 978-1305505469Economics 11th Edition by William McEachern
Edition 11ISBN: 978-1305505469 Exercise 11
LAW OF DIMINISHING MARGINAL UTILITY Complete each of the following sentences:
a. Your tastes determine the _______ you derive from consuming a particular good.
b. _______ utility is the change in _______ utility resulting from a _______ change in the consumption of a good.
c. As long as marginal utility is positive, total utility is _______.
d. The law of diminishing marginal utility states that as an individual consumes more of a good during a given time period, other things constant, total utility _____.
a. Your tastes determine the _______ you derive from consuming a particular good.
b. _______ utility is the change in _______ utility resulting from a _______ change in the consumption of a good.
c. As long as marginal utility is positive, total utility is _______.
d. The law of diminishing marginal utility states that as an individual consumes more of a good during a given time period, other things constant, total utility _____.
Explanation
Verified
Verified
Law of diminishing marginal utility
a.Y...
Economics 11th Edition by William McEachern
Why don’t you like this exercise?
Other Minimum 8 character and maximum 255 character
Character 255
