The Principle of Diminishing Marginal Utility

question 98

Multiple Choice

The principle of diminishing marginal utility:

• A)refers to the tendency of total utility to increase until an individual's budget is no longer constrained.
• B)refers to the tendency of marginal utility to decline as the amount of consumption of a good or service increases.
• C)indicates that,if a good is inferior,less of it will be purchased when income falls.
• D)assumes all goods are normal.

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Definitions:

Growth Spurts

Rapid physical development and height increases, often occurring during puberty.

Growth In Infancy

The rapid physical and psychological development occurring in human beings between birth and the end of the second year of life.

Prenatal Development

The progression of maturation and formation inside the uterus from fertilization to delivery.

Canalization

A genetic term referring to the ability of an organism to produce the same phenotype regardless of variability in its environment or genotype.