6) According to the law of diminishing marginal utility, _________? A) Additional consumption always yields extra utility B) Additional consumption leads to lower average total utility C) Additional consumption always yields negative utility D) After a point any addition in the consumption causes a reduction in total utility.
6) According to the law of diminishing marginal utility, _________? A) Additional consumption always yields extra utility B) Additional consumption leads to lower average total utility C) Additional consumption always yields negative utility D) After a point any addition in the consumption causes a reduction in total utility.
Chapter6: Consumer Choice And Demand
Section: Chapter Questions
Problem 1.2P
Related questions
Question
6) According to the law of diminishing
- A) Additional consumption always yields extra utility
- B) Additional consumption leads to lower average total utility
- C) Additional consumption always yields negative utility
- D) After a point any addition in the consumption causes a reduction in total utility.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax