Multiple Choice
-According to the information in this table, diminishing marginal utility:
A) sets in when the second unit is consumed.
B) sets in when the third unit is consumed.
C) sets in when the fourth unit is consumed.
D) does not set in.
Correct Answer:
Verified
Related Questions
Q171: The cost of a purchase or action
Q172: Marginal utility and total utility are, respectively:
A)
Q173: The total utility from consuming three units
Q174: A person receives 25 marginal utility points
Q175: According to the Law of Diminishing Marginal