The Principle of Diminishing Marginal Utility Says That

question 51

Multiple Choice

The principle of diminishing marginal utility says that

• A) as more of a good or service is consumed, demand will decrease.
• B) as more of a good or service is consumed, the price will rise.
• C) the marginal utility of additional units consumed will increase.
• D) the marginal utility of additional units consumed will decline.

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Definitions:

Retina

The light-sensitive layer of tissue at the back of the eye, responsible for converting light into neural signals for vision.

Visual Field

The entire area that can be seen when the eye is directed forward, including both central and peripheral vision.

Absolute Threshold

The minimum intensity of a stimulus required for it to be detected by the senses at least 50% of the time.

Difference Threshold

The minimum difference in intensity or quantity required for a person to detect a change between two stimuli.