Which statement BEST describes the principle of diminishing marginal utility? As an individual consumes more of a good: Select one: a. the marginal utility will eventually become negative. b. the total utility obtained will eventually become negative. c. the addition to total utility obtained from the nth unit of the good will be less than that obtained from the immediately preceding unit of the good. d. the total utility obtained will eventually fall.
Which statement BEST describes the principle of diminishing marginal utility? As an individual consumes more of a good: Select one: a. the marginal utility will eventually become negative. b. the total utility obtained will eventually become negative. c. the addition to total utility obtained from the nth unit of the good will be less than that obtained from the immediately preceding unit of the good. d. the total utility obtained will eventually fall.
Chapter7: Consumer Choice: Maximizing Utility And Behavioral Economics
Section: Chapter Questions
Problem 6QP
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Which statement BEST describes the principle of diminishing marginal utility ? As an individual consumes more of a good:
Select one:
a. the marginal utility will eventually become negative.
b. the total utility obtained will eventually become negative.
c. the addition to total utility obtained from the nth unit of the good will be less than that obtained from the immediately preceding unit of the good.
d. the total utility obtained will eventually fall.
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