According to the Concept of Diminishing Marginal Utility, Consumers Will

question 281

Multiple Choice

According to the concept of diminishing marginal utility, consumers will purchase more of a good when the price falls because

• A) substitutes are relatively more expensive.
• B) consumers' real income has increased.
• C) the marginal benefit of additional units of the good now outweigh the marginal cost.
• D) the good is now perceived as having higher quality.

---

Definitions:

Electronegativity

A measure of an atom’s attraction for electrons.

Covalent Bonding

A chemical bond that involves the sharing of electron pairs between atoms, stabilizing them and making the atoms bound together in a molecule.

Protobionts

Assemblages of organic polymers that spontaneously form under certain conditions. Protobionts may have been involved in chemical evolution.

Abiotically Produced

Referring to substances or processes occurring without the involvement of biological organisms, typically through physical or chemical phenomena.