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Introduction to Economics 1
Introduction to Economics 1 Deneme Sınavı
Introduction to Economics 1 Deneme Sınavı Sorusu #1192838
Introduction to Economics 1 Deneme Sınavı Sorusu #1192838
Which of the following refers to the situation when the marginal utility derived from consuming successive units of a product will eventually decline as the rate of consumption increases?
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Completeness of preferences. |
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The law of diminishing marginal utility. |
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Limited income necessitates choice. |
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A diminishing marginal rate of substitution. |
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Consumer’s preferences are transitive. |
Yanıt Açıklaması:
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.
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