« previous next »

Author Question: Comment on the following statement: Diminishing marginal utility means that total utility falls when ... (Read 183 times)

viki

  • Hero Member
  • *****
  • Posts: 525
on: Jun 29, 2018
Comment on the following statement: Diminishing marginal utility means that total utility falls when an additional unit of a good is consumed.
 
  What will be an ideal response?

Question 2

A monopoly is a firm that produces a good or service for which no close substitute exists.
 
  Indicate whether the statement is true or false


jessicaduplan

  • Sr. Member
  • ****
  • Posts: 337
Reply #1 on: Jun 29, 2018
Answer to Question 1

That statement is not true. Diminishing marginal utility means that marginal utility falls when an additional unit of a good is consumed.

Answer to Question 2

TRUE


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Urine turns bright yellow if larger than normal amounts of certain substances are consumed; one of these substances is asparagus.

Did you know?

The tallest man ever known was Robert Wadlow, an American, who reached the height of 8 feet 11 inches. He died at age 26 years from an infection caused by the immense weight of his body (491 pounds) and the stress on his leg bones and muscles.

Did you know?

Earwax has antimicrobial properties that reduce the viability of bacteria and fungus in the human ear.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Did you know?

More than 4.4billion prescriptions were dispensed within the United States in 2016.

The effective temperature, or black body temperature, of the Sun (5777 K) is the temperature a black The effective temperature, or black body temperature, of the Sun (5777 K) is the temperature a black
The correct statement about hormones-insulin and glucagon The correct statement about hormones-insulin and glucagon
Anglin's estimates of the total vocabulary of children in Grades 1, 3, and 5 Anglin's estimates of the total vocabulary of children in Grades 1, 3, and 5
A company purchased 26 desks for $240 each and 18 chairs for $59 each. Compute the total ... A company purchased 26 desks for $240 each and 18 chairs for $59 each. Compute the total ...
A bank statement shows a balance of $2,970.31 The check register of the account owner shows an ... A bank statement shows a balance of $2,970.31 The check register of the account owner shows an ...
Sol Duc Falls in Olympic National Park, Washington. Sol Duc Falls in Olympic National Park, Washington.
Video: What is Cholesterols? Introduction to Lipoproteins

For a complete list of videos, visit our video library