Multiple Choice
According to the Law of Diminishing Marginal Utility:
A) marginal utility is increasing when total utility is decreasing.
B) the second unit of a good consumed adds less to total satisfaction than was added by the first unit consumed.
C) there is less satisfaction from consuming when there is a wide range of goods to choose from than when there is a narrow range.
D) beyond some point, the next unit of a good consumed adds less to total satisfaction than was added by the unit consumed just before it.
Correct Answer:
Verified
Related Questions