Asked by
Emily Gawrych
on Oct 12, 2024
Verified
When marginal utility is zero,total utility
A) is zero.
B) is maximized.
C) is falling.
D) is negative.
Marginal Utility
The additional satisfaction or utility gained from consuming one more unit of a good or service.
Total Utility
The total satisfaction received from consuming a certain amount of goods or services.
- Determine the circumstances that lead to the maximization or minimization of consumer surplus and utility.
Verified Answer
CC
Learning Objectives
- Determine the circumstances that lead to the maximization or minimization of consumer surplus and utility.