« previous next »

Author Question: The marginal utility received from each additional unit of a good consumed declines, other things ... (Read 103 times)

Redwolflake15

  • Hero Member
  • *****
  • Posts: 569
on: Jul 1, 2018
The marginal utility received from each additional unit of a good consumed declines, other things constant. This is a statement of the law of
 a. increasing marginal returns
  b. marginal rate of substitution
  c. supply
  d. diminishing marginal utility
  e. demand

Question 2

The law of diminishing marginal utility states that
 a. total utility falls as more of a good is consumed, other things constant
  b. total utility falls as marginal utility falls, other things constant
  c. marginal utility falls as total utility increases, other things constant
  d. marginal utility falls as more of a good is consumed, other things constant
  e. marginal utility falls as less of a good is consumed, other things constant


k2629

  • Sr. Member
  • ****
  • Posts: 357
Reply #1 on: Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Did you know?

Eating food that has been cooked with poppy seeds may cause you to fail a drug screening test, because the seeds contain enough opiate alkaloids to register as a positive.

Did you know?

As many as 28% of hospitalized patients requiring mechanical ventilators to help them breathe (for more than 48 hours) will develop ventilator-associated pneumonia. Current therapy involves intravenous antibiotics, but new antibiotics that can be inhaled (and more directly treat the infection) are being developed.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

Good computer skills are now required to be a successful member of an office staff. Good computer skills are now required to be a successful member of an office staff.
The Inverted Income Pyramid: The Proportion of Income Received by Each Fifth of the U.S. Population The Inverted Income Pyramid: The Proportion of Income Received by Each Fifth of the U.S. Population
A good disinfecting solution you can make yourself consists of 1 part bleach to 10 parts water. A good disinfecting solution you can make yourself consists of 1 part bleach to 10 parts water.
Peanut butter is good source of protein Peanut butter is good source of protein
In ABC, A=90, b=3 cm, c=7 cm. Solve for all unknowns to the nearest tenth of a unit. In ABC, A=90, b=3 cm, c=7 cm. Solve for all unknowns to the nearest tenth of a unit.
Video: Plant Defense Mechanisms from Pathogens

For a complete list of videos, visit our video library