Refer to the Following Figure When Answering the Following Questions

question 23

Multiple Choice

Refer to the following figure when answering the following questions.
Figure 16.1: Consumption Function
-Consider the utility functions in Figure 16.1. Which of the following exhibits diminishing marginal utility?

• A) a
• B) e
• C) d
• D) b
• E) c

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Definitions:

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Unrecognized or unspoken desires or requirements of consumers that haven't yet been addressed by the market.

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Individuals who travel primarily for business purposes, often involving trips organized by their employers or businesses.

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The process of being mentally stimulated to do or feel something, especially something creative or the arousal of a sudden brilliant, creative, or timely idea.