When an Individual's Consumption of an Additional Unit of a Good

question 133

Multiple Choice

When an individual's consumption of an additional unit of a good generates a smaller increase in total utility than the previous unit consumed,then this person's indifference curve will be:

• A)a straight line.
• B)convex,or bowed toward the origin.
• C)concave,or bowed away from the origin.
• D)a right angle.

---

Definitions:

Worth

The total value of all financial and non-financial assets owned by an individual or business minus any liabilities.

One-time Investment

An investment made in a lump sum, as opposed to investing in smaller, incremental amounts over time.

Valued

Considered to have a specific worth or significance, often in monetary terms but can also refer to non-monetary aspects like cultural or intrinsic value.

One-time Investment

An investment made with a single lump-sum payment, as opposed to recurring investments.