Total utility curve
A) always rises
B) first falls then rises
C) always falls
D) first rises and then falls after reaching its maximum
Correct Answer:
Verified
Q14: When Total utility is increasing at an
Q15: Other things being equal a decrease in
Q16: When price of a product falls, more
Q17: "Utility or satisfaction is a subjective concept;
Q18: Ordinal utility analysis is otherwise known as
A)gossens
Q19: Ordinal utility analysis Was developed by
A)j.r.hicks &
Q21: At saturation point MU of a commodity
Q22: A consumer reaches equilibrium when
A)marginal utility is
Q23: Marshalian cardinal utility analysis assumes
A)marginal utility of
Q24: When individuals income falls (everything remain the
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