Multiple Choice
Which of the following is FALSE?
A) A consumer is maximizing total utility when he or she gets the same amount of marginal utility from the last dollar spent on each good purchased.
B) As additional units of a good or service are consumed, marginal utility diminishes.
C) Utility is want-satisfying power.
D) Assuming that the law of diminishing marginal utility holds, the demand curve must be upward sloping.
Correct Answer:
Verified
Correct Answer:
Verified
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