According to the law of diminishing marginal utility,the marginal utility of my fourth ice-cream is
A) Less than the marginal utility of my third ice-cream
B) Less than the marginal utility of my fifth ice-cream
C) More than the marginal utility of my third ice-cream
D) More than the marginal utility of my second ice-cream
E) Less than the marginal utility of my sixth ice-cream
Correct Answer:
Verified
Q2: Which of the following statements cannot be
Q8: Consumer preferences
A)do not vary from one consumer
Q9: Utility is
A)easily measured because all people derive
Q11: Different people may have different tastes, but
Q14: Which of the following statements concerning utility
Q15: Marginal utility is the
A)overall satisfaction obtained from
Q18: Economists assume people's tastes are
A)determined solely by
Q25: The law of diminishing marginal utility implies
Q28: If marginal utility is negative, total utility
Q34: Marginal utility is negative only when quantity
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