272) Which of the following does the principle of diminishing marginal utility say about what happens when a consumer consumes more of a product?
Answer is:
The consumer’s marginal utility will diminish
Related Micro Economics MCQ (GK Set-1) with Answers
Answer is:
The consumer would gain more utility from A and B by consuming more A and less B
Answer is:
The fact that the further an indifference curve is from the origin, the more total utility it represents
Answer is:
The shape and position of the consumer’s indifference curves
Answer is: