2. extension high interest rates affect
individuals as well as the business
cycle itself. suppose you wanted to
purchase a new cellphone but did
not have the money to pay for it. if
someone offered you the money at
15 percent interest over a six-month
period, would you be interested?
what might you do instead of bor-
rowing the money?

What is the difference between total utility and marginal utility? a. marginal utility is subject to the law of diminishing marginal utility while total utility is not. b. total utility represents the consumer optimum while marginal utility gives the total utility per dollar spent on the last unit. c. total utility is the total amount of satisfaction derived from consuming a certain amount of a good while marginal utility is the additional satisfaction gained from consuming an additional unit of the good. d. marginal utility represents the consumer optimum while total utility gives the total utility per dollar spent on the last unit.