Which of These Is an Example of the Law of Diminishing

question 129

Multiple Choice

Which of these is an example of the law of diminishing marginal utility?

• A) Toddler Joey wants his mother to read him the same story over and over, and he is equally thrilled every time she reads it.
• B) As the price of his favorite candy bar rises, Martin buys fewer and fewer candy bars.
• C) Marta develops an allergy to milk. She drinks less of it each month as the allergy gets worse.
• D) Julia eats three cookies. She takes 20 seconds to eat the first one, 1 minute to eat the second one, and 3 minutes to eat the third one.

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Definitions:

Parametric Test

A category of hypothesis tests that assumes underlying statistical distributions in the data and usually involves parameters such as the mean or variance.

Wilcoxon Rank-sum Test

A nonparametric statistical test used to compare two independent samples, based on the ranks of their values, to determine if there are significant differences between them.

Ordered Array

A sequence of elements arranged in ascending or descending order, often used in computer programming for sorting and searching algorithms.

Pooled Sample Data

Combining data from different sources or groups to increase statistical power or assess overall effects.