If the Marginal Utility of a Product Is Diminishing Relative

question 79

Multiple Choice

If the marginal utility of a product is diminishing relative to the marginal utility of other products,then _____.

• A)the consumer is in equilibrium
• B)the consumer has been purchasing relatively less of the product
• C)the consumer has been purchasing relatively more of the product
• D)the price of this product must have increased
• E)the price of the product must have decreased

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Definitions:

Dependent Variables

In experimental and statistical research, the variable being tested and measured, expected to change as a result of manipulations to the independent variable.

Deception

The act of misleading or falsely persuading others, often used in psychological experiments to maintain the integrity of the study.

Informed Consent

A process for getting permission before conducting a healthcare intervention on a person, or for disclosing personal information.

Survey

A research method used for collecting data from a predefined group of respondents to gain information and insights on various subjects of interest.