Question

The concept of diminishing marginal utility implies

Q: Answer-The concept of diminishing marginal utility implies that:

Diminishing marginal utility means that as a person consumes more of a good, the additional satisfaction marginal utility from each extra unit declines.

that:

A Total utility decreases with more consumption

B Consumers will eventually get negative utility from a good

C Each additional unit of a good provides less additional satisfaction

D The price of a good must decrease over time

Practice Next

More Economic and Social Issues ESI Questions

The ratio of the length to the breadth of a rectangle is 5:7. If the sum of the length and breadth of the rectangle is 60 cm, find the area (in cm²) of...
The inner radius of a hollow cylindrical pipe is 4.8 cm. If the length of the pipe and the thickness of the pipe are 20 cm and 2.5 cm, respectively, calcul...
A path of width 3 m is made outside and around a rectangular field of perimeter 210 m. If the length of the field is 50% more than its breadth, then f...
If the perimeter of rectangle is 54 cm and its length is 3 cm more than breadth then find its area?
If x⁴+ x² y² + y⁴ = 37 and x² – xy + y² = 5, then what is the value of xy ?
The perimeter of a sector of a circle, whose radius is 15 cm, is 61 cm. If the length of a rectangle is 10 cm more than the arc subtended by the sector ...
A race track is in the shape of a rectangle with length of 30 metres and area of 4500 m². A car takes 20 seconds to make one lap around the p...
Find the height of a cone if its radius is 14 cm and curved surface area is 1320 cm².
A hollow cylinder has an internal radius of 7 cm and an external radius of 10 cm. If its height is 20 cm, find the total surface area of the cylinder.
Two paths of width 5 metres are to be made in the centre of rectangular field such that they are perpendicular to each other. Find the area (in m^2<...

The concept of diminishing marginal utility implies

Solution