The Principle of Diminishing Marginal Utility States That as an Individual

question 169

Essay

The principle of diminishing marginal utility states that 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 (n - 1) unit of the good.
D.the marginal utility will eventually become negative.

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Definitions:

Revolutionary

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Sick Man of Europe

A derogatory nickname historically used to describe a European country experiencing a period of economic difficulty or poor health, originally referring to the Ottoman Empire in the 19th century.

Ottoman Empire

was a vast and powerful empire founded at the end of the 13th century by Turkish tribes in Anatolia. It lasted until the early 20th century, encompassing parts of Southeast Europe, Western Asia, and North Africa.

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