1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Trava [24]
2 years ago
11

The law of diminishing marginal utility states that the: Multiple choice question. marginal utility associated with the consumpt

ion of a good or service becomes larger with each extra unit that is consumed in a given time period. marginal utility associated with the consumption of a good or service becomes smaller with each extra unit that is consumed in a given time period. total utility associated with the consumption of a good or service becomes smaller with each extra unit that is consumed in a given time period.
Business
1 answer:
Drupady [299]2 years ago
7 0

The law of diminishing marginal utility states that as more units of a good are consumed, the marginal utility from the consumption of the next unit becomes lesser. John's total utility from the consumption of two ice creams is 10, and his total utility from the consumption of three ice creams is 9.7.

<h3>What does the law of diminishing marginal utility State?</h3>
  • According to the law of declining marginal utility, when consumption rises, the marginal utility gained from each extra unit decreases, all other things being equal.
  • The incremental improvement in utility brought on by consuming one more unit is known as marginal utility.

<h3>Which law does the law of diminishing marginal utility affect?</h3>
  • According to the law of diminishing marginal utility, a good or service's marginal utility decreases the more of it is used by a person.
  • Consuming increasing quantities of a good gives economic actors less and less pleasure.

<h3>What is law of diminishing marginal returns?</h3>
  • According to the law of declining marginal returns, increasing the number of production factors leads to lesser increases in output.
  • The addition of any more of a production element after a certain level of capacity utilization would unavoidably result in lower per-unit incremental returns.

Learn more about diminishing marginal utility here:

brainly.com/question/13084220

#SPJ4

You might be interested in
The basic goal in dealing with the problem of scarcity is
Fiesta28 [93]
Scarcity is to not have enough resources to fullfil a societies wants and needs. The 3 basic questions a society must ask inorder to deal with this are. what to produce? how to produce? and, for whom to produce? whoever answers those questions is how I societies economic system is decided. Though to answer your question in short, the basic goal of a society is to deal with scarcity, they achieve this by producing as much resources as possible with the little resources available.
6 0
2 years ago
Skidmore Music Company had the following transactions in March:
finlep [7]

Answer: Check attachment

Explanation:

A cash basis income statement is simply referred to as an income statement which contains revenues and expenditures for the company whereby cash has either being received or paid by the company.

For accrual basis income statement, revenue and expenditures are recorded when they're either earned or made.

Check the attachment for more analysis.

5 0
3 years ago
A company paid $0.58 in cash dividends per share. Its earnings per share is $4.30 and its market price per share is $28.75. Its
Lina20 [59]

Answer:

a) 2.02%

Explanation:

Dividend yield = Cash dividend per share / Market price per share

Dividend yield = $0.58 / $28.75

Dividend yield = 0.02017

Dividend yield = 2.02%

5 0
2 years ago
Which of the following choices is NOT a use for project plans in the workplace?
bixtya [17]
Out of the choices given, the choice that is NOT a use for project plans in the workplace is teacher lesson plans. The correct answer is B. 
6 0
2 years ago
Too much money chasing too few goods is characterized by the term ________.
bogdanovich [222]
Too much money chasing too few goods is characterized by the term inflation.
8 0
3 years ago
Other questions:
  • The fact that the words 'whiskey makes you sick when you're well', when arranged differently, 'whiskey, when you're sick, makes
    15·2 answers
  • Stock Y has a beta of 1.59 and an expected return of 25%. Stock Z has a beta of 0.44 and an expected return of 12%. If the risk
    7·1 answer
  • The Utah Mining Corporation is set to open a gold mine near Provo, Utah. According to the treasurer, Monty Goldstein, "This is a
    15·1 answer
  • The Single European Act was put in place in an attempt to Multiple Choice convince Great Britain to remain in the EU. determine
    5·1 answer
  • The general ledger of Red Storm Cleaners has the following summary of the transactions for the year:
    9·1 answer
  • Which of the following illustrates an inflow of cash? a. a decrease in common stock b. a decrease in long-term debt c. a decreas
    8·1 answer
  • Which of the given stakeholders form part of a company’s secondary stakeholders?
    13·1 answer
  • Provide theoretical underpinnings of empirical findings in Wang (2018b) and Wang and Duxbury (2021).
    15·1 answer
  • Multi-item indexes are unable to account for dual sources of status (both men and women) in american households because they?
    9·1 answer
  • 4. when the total expenses are greater than the total revenues, (a) the income summary account has a credit balance. (b) the inc
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!