Multiple Choice
Individuals who haven't studied economics may not understand how all-you-can-eat buffets manage to make money.This can be explained by the concept of ________,which makes each trip to the buffet line less satisfactory than the previous one.
A) real-income effect
B) marginal utility
C) diminishing marginal utility
D) the substitution effect
E) the consumer optimum
Correct Answer:
Verified
Correct Answer:
Verified
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