-Which of the Following Most Clearly Illustrates the Law of Diminishing

question 132

Multiple Choice

-Which of the following most clearly illustrates the law of diminishing marginal utility?

• A)The total satisfaction from consuming a good falls as more of the good is consumed.
• B)Marginal utility falls as total utility falls.
• C)The quantity of a good demanded falls as its price rises.
• D)The additional satisfaction from consuming a good falls as more of the good is consumed.
• E)There is a direct relationship between the price of a good and its total utility.

---

Definitions:

Duplication of Resources

The unnecessary repetition or wasteful allocation of organizational assets or personnel, often leading to inefficiency and increased costs.

Changing Demands

Alterations in consumer preferences, market conditions, or operational requirements that necessitate adjustments in business strategy or operations.

Operations

Refers to the activities and processes used by organizations to produce goods or deliver services effectively and efficiently.

Coordination

The process of organizing people or groups so that they work together properly and well.