Survey data for Americans are illustrated in a graph with the average level of well-being reported (on the vertical axis) at each level of income (on the horizontal axis). The slope of this curve indicates the relationship between well-being and income is consistent with _____ marginal benefit for additional income.

Question

Quizplus · Accepted Answer

The fact that the curve shows a decreasing slope indicates that the relationship between well-being and income is consistent with diminishing marginal benefit for additional income. This means that as income increases, the additional well-being gained from each additional dollar earned decreases.

Survey Data for Americans Are Illustrated in a Graph with the Average