According to the Principle of Diminishing Marginal Utility,as Consumption of a Good

question 77

Multiple Choice

According to the principle of diminishing marginal utility,as consumption of a good increases,total utility

• A)decreases and then eventually increases.
• B)decreases at an increasing rate.
• C)decreases at a decreasing rate.
• D)increases at an increasing rate.
• E)increases at a decreasing rate.

---

Definitions:

Withdrawing Partner

An individual partner who exits a partnership, thereby receiving their share of the partnership's assets after settling any liabilities.

Accounts Receivable

Money owed to a business by its clients or customers for goods or services delivered but not yet paid for, recorded as an asset on the balance sheet.

Allowance for Doubtful Accounts

A contra-asset account used to estimate the amount of receivables that may not be collectible.

Sole Proprietorship

A business owned and operated by a single individual, with no legal distinction between the owner and the business entity.