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Short description: A graph plots unit of a good against the total utility. Long description: The horizontal axis representing the unit of a good ranges
Short description: A graph plots unit of a good against the total utility. Long description: The horizontal axis representing the unit of a good ranges from 0 to 6, in increments of 1. The vertical axis representing total utility ranges from 0 to 110, in increments of 10. The graph shows a curve that passes through the following points: (0, 0), (1, 60), (2, 80), (3, 92), (4, 98), and (5, 100). Note: all values are approximate. FIGURE 6-1 Refer to Figure 6-1. The total utility curve in this figure illustrates the law of a. diminishing total utility. b. diminishing marginal utility. c. maximizing utility. d. increasing marginal utility. e. increasing partial utility
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