Multiple Choice
On a graph with utility on the vertical axis and wealth on the horizontal axis, diminishing marginal utility of wealth implies that the utility function is
A) upward-sloping and has decreasing slope.
B) upward-sloping and has increasing slope.
C) downward-sloping and has decreasing slope.
D) downward-sloping and has increasing slope.
Correct Answer:
Verified
Correct Answer:
Verified
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