Multiple Choice
Ceteris paribus, as more and more of an activity is done, the additional benefits derived from the activity decreases represents
A) the law of increasing marginal costs
B) the law of diminishing marginal costs
C) the law of increasing marginal benefits
D) the law of diminishing marginal benefits
Correct Answer:
Verified
Correct Answer:
Verified
Q24: Which of the following statements is most
Q25: Diminishing marginal benefits is reflected in<br>A)a consumer's
Q26: Which of the following would represent a
Q27: Engaging in an activity until marginal benefits
Q28: This forces us to allocate resources<br>A)marginal benefits<br>B)marginal
Q30: Utility is all of the following except<br>A)a
Q31: Explain why money would not be considered
Q32: The additional or incremental benefit associated with
Q33: The value of the next-best alternative forgone
Q34: Economics is<br>A)the study of production<br>B)the study of