Introduction to Economics 1 Deneme Sınavı Sorusu #1225280
What does 'the law of diminishing marginal utility' mean?
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The additional utility derived from consuming successive units of a product will eventually increase as the rate of consumption increases. |
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The additional utility derived from consuming successive units of a product will stays the same as the rate of consumption increases. |
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The additional utility derived from consuming successive units of a product will be zero as the rate of consumption increases. |
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The additional utility derived from consuming successive units of a product will eventually decline as the rate of consumption increases. |
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The additional utility derived from consuming successive units of a product will be infinite as the rate of consumption increases. |
The law of diminishing marginal utility is that the marginal (or additional) utility derived from consuming successive units of a product will eventually decline as the rate of consumption increases. The answer is D.
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