Asked by Logan perry on May 08, 2024
Verified
When marginal utility is zero, total utility is at a minimum.
Total Utility
The cumulative satisfaction or usefulness that a person gains from consuming all units of a particular good or service.
- Differentiate between the concepts of total utility and marginal utility.
Verified Answer
NG
Narmeen GhazawnehMay 13, 2024
Final Answer :
False
Explanation :
When marginal utility is zero, it means that consuming an additional unit of a good or service provides no additional satisfaction, indicating that total utility has reached its maximum, not minimum.
Learning Objectives
- Differentiate between the concepts of total utility and marginal utility.
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