Author Question: What is the key assumption about marginal utility? What will be an ideal ... (Read 38 times)

Yi-Chen

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What is the key assumption about marginal utility?
 
  What will be an ideal response?

Question 2

Most doctors and hospitals operate as private businesses in all of the following countries except
 
  A) the United Kingdom. B) the United States.
  C) Japan. D) Canada.


stanleka1

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Answer to Question 1

Generally, more consumption gives more utility. A key assumption about marginal utility is that it generally declines as more units of the good are consumed. This assumption is the principle of diminishing marginal utility.

Answer to Question 2

A



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Yi-Chen

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stanleka1

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