SOLVED: If marginal utility is positive and constant with increasing consumption, then total utility will A. fall at a decreasing rate. B. rise at an increasing rate. C. rise at a decreasing rate. D. rise at a constant rate. E. fall at a constant rate.
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SOLVED:Complete the following table and answer the questions below: a. At which rate is total utility increasing: a constant rate, a decreasing rate, or an increasing rate? How do you know? b. "A rational consumer will purchase only 1 unit of the product represented by these data, since that amount maximizes marginal utility." Do you agree? Explain why or why not. c. "It is possible that a rational consumer will not purchase any units of the product represented by these data." Do you agree? Expl
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