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Which of the following statements describe correct patterns for total and marginal utilities? (Select all correct answers) A. Total utility increases as consumption increases but

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Which of the following statements describe correct patterns for total and marginal utilities? (Select all correct answers) A. Total utility increases as consumption increases but eventually declines B. Marginal utility decreases but cannot become negative. C. Total utility increases faster and faster as consumption increases D. Marginal utility is greater than total utility E. Marginal utility decreases as consumption increases Compared to a competitive firm, a monopoly will... (select all correct answers) A. produce an output where marginal revenue is lower than marginal cost B. be less efficient C. charge a higher price D. produce greater quantities

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