Answer to Question #9797 in Economics of Enterprise for Joann

Question

The total utlity curve shows the relationship between _________ on the horizontal axis and ___________ on the vertical axis

Answer 1

Total utility (TU) is the satisfaction that people get from consuming all the available quantity of goods of a type. The total utility curve has a positive slope of curve, which gradually decreases; It shows the relationship between a quantity of goods on the horizontal axis and total utility of goods in utils on the vertical axis.