What happens to total utility even if there is diminishing marginal utility? Even if there is diminishing

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What happens to total utility even if there is diminishing marginal utility? Even if there is diminishing marginal utility, why is it assumed that people prefer more rather than less?

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Economics An Introduction To Traditional And Progressive Views

ISBN: 9780765616685

7th Edition

Authors: Howard J. Sherman, E. K. Hunt, Reynold F. Nesiba, Phillip A. O'Hara, Barbara A. Wiens-Tuers

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Question Posted: Nov 08, 2023 09:01 PM

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What happens to total utility even if there is diminishing marginal utility? Even if there is diminishing

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Even if there is diminishing marginal utility total utility can still increase as more of a good is consumed This is because marginal utility is the a...View the full answer

Economics An Introduction To Traditional And Progressive Views

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