Author Question: The law of diminishing marginal utility implies it is possible that the marginal utility of my tenth ... (Read 152 times)

james · **on:** Jul 1, 2018

The law of diminishing marginal utility implies it is possible that the marginal utility of my tenth pistachio nut is less than the marginal utility of my third pistachio nut, other things constant.
a. True
b. False

Question 2

Marginal utility is a measure
a. of total utility derived from consuming a given amount of a good
b. of the total utility gained from consuming an extra unit of a good
c. computed by dividing total utility by the amount of a good consumed
d. determined by production conditions in a market
e. of the cost associated with consuming one more unit of a good