The marginal utility of leisure time appears to
A) bethe same even for people with widely different incomes.
B) beexempt from the law of diminishing marginal utility.
C) increase as the quantity of available leisure time decreases.
D) equal zero for successful business executives.

Question

Quizplus · Accepted Answer

The marginal utility of leisure time increases as the quantity of available leisure time decreases. This is because when a person has very little leisure time, they value it more and it becomes more precious to them. As they have more leisure time available, each additional hour of leisure time becomes less valuable to them, following the law of diminishing marginal utility.

The Marginal Utility of Leisure Time Appears to