Diminishing Marginal Utility of Wealth Implies That the Utility Function

question 70

Multiple Choice

Diminishing marginal utility of wealth implies that the utility function is

• A)upward-sloping and has decreasing slope.
• B)upward-sloping and has increasing slope.
• C)downward-sloping and has decreasing slope.
• D)downward-sloping and has increasing slope.

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Definitions:

Sound Frequencies

The number of sound vibrations per second, measured in Hertz (Hz), determining the pitch of sounds heard.

Crickets

Insects of the family Gryllidae, known for their chirping sounds produced by rubbing their wings together, often used as indicators of temperature.

Intensity Threshold

The minimum level of stimulus required to elicit a perceptible response or reaction in a biological system.

Sound Frequency

The number of sound vibrations per second, measured in hertz (Hz), affecting the pitch of the sound.