Multiple Choice
Which of the following statement is TRUE with regard to total utility
A) total utility is the utility derived from last unit
B) total utility increases at a diminishing range
C) as consumption increases total utility goes on diminishing
D) at saturation point total utility is negative
Correct Answer:

Verified
Correct Answer:
Verified
Q2: When price of a product falls, more
Q3: The MC curve cuts the AC curve
Q4: Which of the following is called gossans
Q5: The U shape of the LAC reflects<br>A)law
Q6: For a giffen good, when price falls<br>A)demand
Q8: According to Marshall, The law of diminishing
Q9: If both the products X & Y
Q10: A production possibility curve is concave to
Q11: Indifference curve is always<br>A)concave to the origin<br>B)convex
Q12: "Utility or satisfaction is a subjective concept;