Diminishing Marginal Utility Is a Decline in ________ with Each

question 152

Multiple Choice

Diminishing marginal utility is a decline in ________ with each additional ________.

• A) units consumed; utility
• B) utility; util
• C) unit; satisfaction
• D) satisfaction; unit
• E) utils; increase

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Definitions:

Liabilities

Liabilities refer to financial obligations or debts that a company owes, which are expected to be settled through the transfer of assets, provision of services, or other economic benefits.

Account

A record summarizing all the transactions pertaining to a single item in the accounting equation.

Debit And Credit Side

Terms used to describe the two sides of an accounting ledger; the debit side records increases in assets and expenses and decreases in liabilities and equity, while the credit side records increases in liabilities, equity, and revenues and decreases in assets and expenses.

Source Document

A primary document that holds the necessary information to verify a transaction recorded in a financial system.