The law of diminishing marginal utility states that
A) total utility falls as more of a good is consumed, other things constant
B) total utility falls as marginal utility falls, other things constant
C) marginal utility falls as total utility increases, other things constant
D) marginal utility falls as more of a good is consumed, other things constant
E) marginal utility falls as less of a good is consumed, other things constant
Correct Answer:
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Q24: The law of diminishing marginal utility states
Q25: The law of diminishing marginal utility implies
Q26: Marginal utility is defined as the
A)average amount
Q27: The marginal utility of a second copy
Q28: If marginal utility is negative, total utility
Q30: "The second glass of Evian water was
Q31: Total utility can be calculated as the
A)sum
Q32: Positive marginal utility implies increasing total utility.
Q33: The law of diminishing marginal utility implies
Q34: Marginal utility is negative only when quantity
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