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:

Wars

Armed conflicts between different nations or groups within a nation, characterized by violence, chaos, and significant human and material losses.

Social Upheaval

A significant disruption or change in the structure, functioning, or equilibrium of society, often associated with conflict, revolutions, or reforms.

Aggression

Behavior intended to harm or intimidate others, which can manifest physically, verbally, or psychologically.

Seafarers

Individuals who work or travel by sea, often referring to sailors, fishermen, or cultures with strong maritime traditions.