According to the Traditional Theory of Marginal Utility as Presented

question 129

Multiple Choice

According to the traditional theory of marginal utility as presented in the textbook,as more units of a good are acquired,the consumer's marginal utility

• A) always continues to rise.
• B) diminishes.
• C) remains constant.
• D) may diminish at first, but it must eventually rise.
• E) may rise at first, but it must eventually become constant.

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Definitions:

Minimum Requirements

The least or lowest acceptable standards or quantities needed to achieve a specific goal or function.

FCFS

First Come, First Served, a method of service or resource allocation where requests are processed in the order that they were received.

EDD

Stands for Earliest Due Date, a rule used in production and operations management to prioritize jobs, tasks, or items that have the earliest due dates first.

SPT

Shortest Processing Time, a rule used in job sequencing to decrease the total amount of time required to complete a set of jobs by processing the shortest job first.