What does the law of diminishing marginal utility posit?

A) As a person consumes decreasing quantities of a given good, the pleasure she derives from it increases.
B) As a person consumes increasing quantities of a given good, he must produce more to afford it.
C) As a person consumes increasing quantities of a given good until he is satisfied.
D) As a person consumes increasing quantities of a given good, the pleasure she derives from it increases, but at a decreasing rate.
E) Over time, and through experience, people learn what quantities of a given good give them the greatest pleasure.


D

Environmental & Atmospheric Sciences

You might also like to view...

A small pellet is accelerated in space by a 10-N force. Suddenly, the pellet encounters a second 10-N force in the opposite direction. With both forces acting, the pellet

A. continues at its speed just before encountering the second force. B. theoretically tends to accelerate without limit. C. is brought to a rapid halt. D. decelerates gradually to a halt.

Environmental & Atmospheric Sciences

Nitrogen Fixation

What will be an ideal response?

Environmental & Atmospheric Sciences

Upon which is the force of gravity greater?

A. A 1-kg iron ball. B. A 1-kg block of wood. C. A 1-kg sack of feathers. D. all of the above

Environmental & Atmospheric Sciences

Which biome is diagrammed in the accompanying figure?

A) boreal forest B) desert C) chaparral D) tropical savanna E) tundra

Environmental & Atmospheric Sciences