Ask Question
BusinessBusiness
11 May, 01:39

When diminishing marginal utility starts happening as a person consumes more and more of a given good rev: 04_09_2018 Multiple Choice total utility will decrease at a diminishing rate. total utility will increase at a diminishing rate. marginal utility will increase at a diminishing rate. total utility will become negative.

+3
Answers (1)
  1. 11 May, 02:52
    0
    The correct answer is letter "B": total utility will increase at a diminishing rate.

    Explanation:

    Marginal utility refers to the additional benefit or satisfaction gained from consuming one more unit of a good or service. People buy when marginal utility is greater than marginal cost, and they do not buy when marginal utility is less than marginal cost.

    There is positive and negative marginal utility. Positive marginal utility occurs when additional items are being bought and, as a result, increases the total utility at a diminishing rate. On the other hand, the negative marginal utility takes place when the additional item purchased decreases the total utility at an increasing rate.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “When diminishing marginal utility starts happening as a person consumes more and more of a given good rev: 04_09_2018 Multiple Choice total ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Under the modified accrual basis of accounting, revenues cannot be recognized 1. Until cash has been collected 2. Unless they will be collected within 60 days of year-end 3. Until they are subject to accrual 4.
Answers (1)
In a market economy a significant change in consumers' desire for product x will: select one: a. alter the profits or losses received by certain firms. b. cause a reallocation of scarce resources. c.
Answers (1)
Assume that the custodian of a $450 petty cash fund has $57.10 in coins and currency plus $387.00 in receipts at the end of the month. The entry to replenish the petty cash fund will include:a. A debit to Cash for $388.50. b.
Answers (1)
Which of the following is an element of related and supporting industries? media exposure of products existence of supplier clusters sophistication of consumers intensity of competition aggregation of markets
Answers (1)
Keenan received a number of letters from his constituents complaining that traffic in their city is too congested. He discussed this with Esteban, who researched the traffic patterns the city.
Answers (1)
New Questions in Business
What does "monetary policy" mean? A. Federal Reserve policies on creating new banks B. political policies pursued by the federal government C. actions the Federal Reserve takes to influence the economy D.
Answers (1)
What is the meaning of market in economics
Answers (1)
If you were a police officer, at night during your shift, you confront a suspicious man walking in an elite neighborhood. You stop to question the man, but he refuses even to give you his name.
Answers (1)
The account "Warranty Liability": is adjusted at the end of the year. is credited each time a warranty repair is made. has a year-end credit balance equal to the cost of warranty repairs made during the year. is closed at the end of the year.
Answers (1)
What percentage of U. S. households have no access to banking services? A) 8 percent B) 10 percent C) 15 percent D) 50 percent
Answers (1)
Home » Business » When diminishing marginal utility starts happening as a person consumes more and more of a given good rev: 04_09_2018 Multiple Choice total utility will decrease at a diminishing rate. total utility will increase at a diminishing rate.
Sign Up Forgot Password?