The Principle of Diminishing Marginal Utility Means That as You

question 290

Multiple Choice

The principle of diminishing marginal utility means that as you eat fewer slices of pizza, your total utility from pizza will ________ and your marginal utility from each additional slice of pizza will ________.

• A) increase; decrease
• B) decrease; increase
• C) increase; increase
• D) decrease; decrease

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Definitions:

Bakes

Refers to the process of cooking food by dry heat, typically in an oven.

Variable Costs

Costs that vary in proportion to the volume of goods or services produced.

Capital

Resources or assets used for the production of goods and services, often including tools, machinery, and buildings.

Mixers

Devices used for blending ingredients together, commonly found in cooking, baking, and cocktail making.