Which of the Following Best Expresses the Law of Diminishing

question 61

Multiple Choice

Which of the following best expresses the law of diminishing marginal utility?

• A)The more of a product consumed, the smaller is the total utility from the product.
• B)The less of a product consumed, the greater is the marginal utility of the product.
• C)The more of a product consumed, the greater is the total utility from the product.
• D)The less of a product consumed, the smaller is marginal utility of the product.

---

Definitions:

Tax Table

A chart that displays the amount of tax owed based on income received, helping individuals or entities calculate their taxes.

Wage Bracket Withholding Table

A chart provided by tax authorities to help employers determine the amount of tax to withhold from an employee's paycheck.

Warranty Liabilities

Obligations that a company holds to repair or replace a product within a specified period due to defects or failures.

Lease Liabilities

Lease liabilities represent a lessee's obligation to make lease payments arising from a lease, as recorded on the balance sheet under new accounting standards.