This table illustrates the law of?

By: |Published on: Mar 30|Categories: Economics JAMB| 0 comments

Units of Quality Consumes Total Utility Marginal Utility
0

1

2

3

4

5

 –

10

15

17

18

18

 –

10

5

2

1

0

 

A. Increasing returns
B. Diminishing returns
C. Diminishing marginal utility
D. Increasing total utility

Correct Answer:

Option C = Diminishing marginal utility

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