_____ is a measure of the total satisfaction derived from consuming a quantity of some good or service.
a. Disutility
b. Diminishing marginal utility
c. Total utility
d. Marginal utility
e. Ordinal utility
Question 2
As quantity increases, which of the following must be true if average total costs are rising?
a. Marginal cost must be greater than average total cost.
b. Marginal cost must be less than average total cost.
c. Average fixed cost must be increasing.
d. Average fixed cost must be less than average variable cost.
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