Figure 10-19
-Refer to Figure 10-19. Which of the following quantities decreases as the quantity of the good is increased?
A) the private cost of the good
B) the social cost of the good
C) the private value of the good
D) the external benefit of the good

Question

Figure 10-19 
-Refer to Figure 10-19. Which of the following quantities decreases as the quantity of the good is increased?
A) the private cost of the good 
B) the social cost of the good 
C) the private value of the good 
D) the external benefit of the good

Quizplus · Accepted Answer

As the quantity of the good increases, the private value of the good typically decreases due to the law of diminishing marginal utility, meaning each additional unit provides less value to consumers.

Figure 10-19 -Refer to Figure 10-19. Which of the Following Quantities Decreases