Multiple Choice
The additional pleasure or satisfaction from a good declines as more of it is consumed in a given period.This is the definition of the
A) Law of demand.
B) Law of diminishing marginal utility.
C) Law of diminishing total utility.
D) Total revenue rule.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q93: The _ of the demand curve corresponds
Q94: Colleges do not engage in price discrimination
Q95: As compared to sociologists and psychologists,economists accept
Q96: Utility maximization is always achieved where total
Q97: An individual's consumer surplus is the difference
Q99: Optimal consumption is the mix of consumer
Q100: Assume the price of cola is
Q101: Rosa is willing to pay $200 for
Q102: Evaluating a supply and a demand curve
Q103: Use the law of diminishing utility to