Decreases when diminishing marginal utility is present

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Reference no: EM131076642

True / False questions for Micro

1. Economic growth means that more goods and services are produced per consumer.

2. The principle of comparative advantage helps explain the benefits of trade between nations.

3. Government price supports on milk would increase the supply of affordable milk for U.S. families.

4. Total utility always decreases when diminishing marginal utility is present.

5. An increase in a consumer's income will even increase the demand for an inferior good.

Reference no: EM131076642

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