The total utility from consuming five muffins is 14,24,35,43,and 50 utils,respectively.Marginal utility begins to diminish after consuming the first muffin.

Question

Quizplus · Accepted Answer

The statement mentions that "Marginal utility begins to diminish after consuming the first muffin", which implies that the marginal utility of each subsequent muffin consumed is lower than the marginal utility of the previous one. This statement is true based on the law of diminishing marginal utility, which states that as a person consumes more of a good, the additional utility (marginal utility) from consuming each additional unit decreases. Therefore, the answer is A.

The Total Utility from Consuming Five Muffins Is 14,24,35,43,and 50