Which Statement BEST Describes the Principle of Diminishing Marginal Utility

question 32

Multiple Choice

Which statement BEST describes the principle of diminishing marginal utility? As an individual consumes more of a good:

• A)the total utility obtained will eventually fall.
• B)the total utility obtained will eventually become negative.
• C)the addition to total utility obtained from the nth unit of the good will be less than that obtained from the immediately preceding unit of the good.
• D)the marginal utility will eventually become negative.

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Definitions:

Thoracic Cage

The bony and cartilaginous structure forming the skeleton of the thorax, protecting vital organs and assisting in respiration.

Costal Cartilages

Bars of hyaline cartilage that extend from the ends of the ribs to the sternum, contributing to the elasticity and expansion capability of the rib cage.

Vertebral Foramina

The holes in the vertebrae through which the spinal cord passes, forming the vertebral or spinal canal.

Lumbar Vertebrae

The five vertebrae between the rib cage and the pelvis, forming the lower part of the back.