Answered step by step
Verified Expert Solution
Question
1 Approved Answer
If marginal utility is negative, total utility increases at a decreasing rate. the consumer considers extra units of the commodity to be a bad. the
If marginal utility is negative,
total utility increases at a decreasing rate.
the consumer considers extra units of the commodity to be a "bad."
the consumer will want to cosume the unit only if it is free.
the consumer likes the commodity, but not as much as he or she once did.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started