Managerial Economics and Ethics - Managerial Economics Quiz
38. Law of diminishing marginal utility states
- A
Utility always diminishes whether something is consumed or not
- B
Total utility diminishes with the consumption of every additional unit
- C
Utility first increases and after that diminishes at every point
- D
The additional benefit which a person derives from a given increase of his stock of a thing diminishes with every increase in the stock that he already has.
