In Using the Concept of Marginal Utility as an Argument

question 121

Multiple Choice

In using the concept of marginal utility as an argument for a downward-sloping demand curve, economists:

• A) are ignoring the law of diminishing marginal utility.
• B) invoke the law of diminishing marginal utility.
• C) are denying the law of diminishing marginal utility.
• D) are doing none of the above.

---

Definitions:

Line Segment QR

A part of a line that is bounded by two distinct end points, Q and R, and contains every point on the line between Q and R.

Unemployed Resources

Factors of production that are available for use but are not currently engaged in the production of goods or services.

Keynesian Model

An economic theory stating that government intervention through fiscal policies is necessary to moderate the boom and bust cycles of an economy.

Horizontal Range

In the context of data visualization or statistical analysis, it refers to the span or extent of values along the horizontal axis, typically representing time or categories.