The Law of Diminishing Marginal Utility Is in Effect When

question 173

Multiple Choice

The law of diminishing marginal utility is in effect when marginal utility is

• A) positive and increasing.
• B) positive and decreasing.
• C) initially zero and then increasing.
• D) initially zero and then decreasing.

---

Definitions:

Quantitative Research

A systematic empirical investigation of observable phenomena via statistical, mathematical, or computational techniques to gather quantifiable data.

Qualitative Research

A research method focused on understanding phenomena through in-depth investigation of people's experiences, perceptions, and motivations, often conducted through interviews, observations, and analysis of texts and documents.

Sociological Perspective

A way of looking at society and social behavior that involves questioning the obvious, examining social patterns, and considering individual behaviors within larger social contexts.

Capitalist System

An economic system where trade, industry, and the means of production are largely or entirely owned and operated by private individuals or companies for profit.