The Principle of Diminishing Marginal Utility Can Be Used to Explain

question 143

Multiple Choice

The principle of diminishing marginal utility can be used to explain why

• A) Bob's second soda is less enjoyable than his first soda.
• B) Bob's first soda is less enjoyable than his second soda.
• C) Charlie enjoys his fourth soda less than Bob enjoys his first.
• D) Bob enjoys his first soda more than Charlie enjoys his fourth.

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Definitions:

Extravert

A person who is outgoing and thrives in social situations, typically characterized by high levels of sociability and enthusiasm.

Critical Realist

A philosophical stance positing that reality exists independently of human thoughts and beliefs, but our understanding of it is always filtered through our social and personal lenses.

Constructivist

Pertaining to the theory that individuals construct their understanding and knowledge of the world through experiences and reflecting on those experiences.

Empiricist

A person who emphasizes the role of experience and evidence, especially sensory perception, in the formation of ideas, over the notion of innate ideas or traditions.