The law of ________ refers to a consumer's decrease in additional satisfaction as she consumes more and more units of a good.
A) consumer choice
B) diminishing marginal utility
C) utility maximization
D) infinite demand
Correct Answer:
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Q185: The law of diminishing marginal utility implies
Q186: A negative marginal utility implies negative total
Q187: The diamond/water paradox helps to illustrate the
Q188: When consumers maximize utility, they are equating
Q189: A person maximizes utility when he equalizes
Q191: The ratio of the marginal utility of
Q192: The _ states that things with the
Q193: The law of diminishing marginal utility implies
Q194: The law of diminishing marginal utility implies
Q195: Assuming well-defined indifference curves, when marginal utility
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