menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Microeconomics Study Set 45
  4. Exam
    Exam 7: Utility Maximization
  5. Question
    The Law of Diminishing Marginal Utility Suggests That the Total
Solved

The Law of Diminishing Marginal Utility Suggests That the Total

Question 325

Question 325

True/False

The law of diminishing marginal utility suggests that the total utility that a consumer derives from a product will increase slower and slower as more of the product is consumed.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q320: When total utility reaches a maximum, then

Q321: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8602/.jpg" alt=" In the graph,

Q322: If total utility has reached a maximum

Q323: Assume initially that the price of X

Q324: Which of the following is correct?<br>A)There is

Q326: Marginal utility is the accumulation of the

Q327: The income of a consumer is $40,

Q328: Utility refers to the<br>A)satisfaction that a consumer

Q329: A child is given $4 of pocket

Q330: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8602/.jpg" alt=" In the diagram,

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines