If, as a Person Consumes More and More of a Good

question 77

Multiple Choice

If, as a person consumes more and more of a good, each additional unit adds less satisfaction than the previous unit consumed, we are seeing the workings of

• A)the law of demand.
• B)the law of supply.
• C)the law of increasing marginal opportunity cost.
• D)the law of diminishing marginal utility.

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Definitions:

Cognitive Flexibility

The mental ability to switch between thinking about two different concepts, and to think about multiple concepts simultaneously.

False Beliefs

Incorrect or unfounded convictions held despite contrary evidence.

Family Engagement

The involvement of family members in a person's educational, medical, or psychological treatment and interventions, often aiming to improve outcomes.

Parental Powerlessness

A feeling of helplessness experienced by parents when they are unable to influence or alter their child's behavior, health condition, or life situation.