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question 163

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Use the following to answer question: Use the following to answer question:   -(Table: Exercise and Total Utility) Use Table: Exercise and Total Utility.The principle of diminishing marginal utility is seen: A) nowhere,as marginal utility is always increasing. B) immediately,from the first hour and beyond. C) between the third and fourth hours. D) after the second hour of exercise.
-(Table: Exercise and Total Utility) Use Table: Exercise and Total Utility.The principle of diminishing marginal utility is seen:


Definitions:

Marginal Costs

The price of generating one more unit of a product or service.

Marginal Productivity

The additional output generated by employing one more unit of a particular resource, while holding other inputs constant.

Returns to Scale

The rate at which production output increases in response to proportional increases in all inputs.

Average Cost

The average cost is the total cost of production divided by the number of units produced, reflecting the cost per unit of output.

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