The law of diminishing marginal utility explains why
A) economists think that utility is a fallacy.
B) consumers optimize by spending all of their income.
C) individual demand curves have a negative slope.
D) marginal utility rises as total utility falls.
Correct Answer:
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Q102: The marginal utility of a unit of
Q103: For most goods and most people, marginal
Q104: Bobby is buying slices of pizza and
Q105: Q106: If total utility declines as an additional Q108: Marginal utility is Q109: Elaine values the utility of her first Q110: Total utility Q111: A consumer possesses five pounds of bananas Q112: Elaine values the utility of her first
A)the difference in price between
A)diminishes as the quantity consumed of
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