Exhibit 6-1 Consider Exhibit 6-1 which shows the total utility derived from various numbers of glasses of milk consumed in a day.Which of the following statements is true?
A)the marginal utility of milk is always positive
B)the marginal utility of milk first increases, reaches a maximum and then decreases
C)the marginal utility of milk is diminishing throughout
D)the marginal utility of the 4th glass of milk is greater than the marginal utility of the 1st glass of milk
E)the marginal utility of milk while diminishing is always greater than zero

Question

Exhibit 6-1  Consider Exhibit 6-1 which shows the total utility derived from various numbers of glasses of milk consumed in a day.Which of the following statements is true?
A)the marginal utility of milk is always positive 
B)the marginal utility of milk first increases, reaches a maximum and then decreases 
C)the marginal utility of milk is diminishing throughout 
D)the marginal utility of the 4th glass of milk is greater than the marginal utility of the 1st glass of milk 
E)the marginal utility of milk while diminishing is always greater than zero

Quizplus · Accepted Answer

The Answer of Exhibit 6-1  Consider Exhibit 6-1 which shows the total utility derived from various numbers of glasses of milk consumed in a day.Which of the following statements is true?
A)the marginal utility of milk is always positive 
B)the marginal utility of milk first increases, reaches a maximum and then decreases 
C)the marginal utility of milk is diminishing throughout 
D)the marginal utility of the 4th glass of milk is greater than the marginal utility of the 1st glass of milk 
E)the marginal utility of milk while diminishing is always greater than zero

Exhibit 6-1 Consider Exhibit 6-1 Which Shows the Total