The law of diminishing marginal utility states that _____
A) total utility falls as more of a good is consumed, other things constant.
B) total utility falls as marginal utility falls, other things constant.
C) marginal utility increases as total utility falls, other things constant.
D) marginal utility falls as more of a good is consumed, other things constant.
E) marginal utility falls as less of a good is consumed, other things constant.
Correct Answer:
Verified
Q15: Marginal utility is _
A)the total satisfaction derived
Q17: Marginal utility is the _
A)overall satisfaction obtained
Q18: In economics,tastes and preferences refer to _
A)consumption.
B)income.
C)prices.
D)utility.
E)trends.
Q19: Total utility is the _
A)sum of all
Q21: "The second glass of Evian water was
Q22: Negative marginal utility implies that _
A)total utility
Q23: When would a consumer experience disutility?
A)if total
Q24: "I don't feel so good; I shouldn't
Q25: Carvel advertises a football-shaped ice cream cake
Q27: The marginal utility of a second copy
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents