Because of the law of diminishing marginal utility, total utility of consuming any good or service

a. increases at a decreasing rate as we consume more of any good or service.
b. decreases as we consume more of any good or service.
c. stays the same.
d. none of the above


a. increases at a decreasing rate as we consume more of any good or service.

Economics

You might also like to view...

According to purchasing power parity, a rise in inflation in the United States. relative to the rest of the world will lead to

A) a balance of payments surplus. B) a balance of payments deficit. C) an exchange rate appreciation. D) an exchange rate depreciation.

Economics

According to Scenario 4-1, country C has net exports of:

a. zero. b. $13 million. c. $6 million. d. ?$13 million. e. ?$6 million.

Economics

Below are pairs of GDP growth rates and unemployment rates. Economists would be shocked to see most of these pairs in the U. S. Which pair of GDP growth rates and unemployment rates is realistic?

a. 5 percent, 1 percent
b. 3 percent, 5 percent
c. -1 percent, 3 percent
d. -2 percent, 4 percent

Economics

Despite the hard work of activists, less than 50% of all countries recognized by the UN have enacted domestic violence laws.

Indicate whither the statement is true or false.

Economics