The principle of diminishing marginal utility states that:
A) individuals rarely maximize their total utility, as it continually diminishes over time.
B) the change in total utility that comes from consuming one additional unit of a good or service fluctuates depending on how many units are consumed in total.
C) the additional utility gained from consuming successive units of a good or service tends to be smaller than the utility gained from the previous unit.
D) the additional utility gained from consuming different bundles of goods and services tends to be smaller than the utility gained from consuming just one bundle of goods and services.
Correct Answer:
Verified
Q18: Pranav is deciding what to drink from
Q19: Which of the following statements is true
Q20: After browsing the shoe store for a
Q21: Roberto and Pasua like to eat pizza
Q22: When successive units of a typical good
Q24: Linus has just watched two hours of
Q25: If Bella eats one piece of pie,
Q26: Sadie has just eaten a donut that
Q27: If Bohai has one piece of gum
Q28: Neema has an hour of free time
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents