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According to the law of diminishing marginal utility, what happens as a consumer consumes more units of a good?

Microeconomics A Contemporary Intro

10th Edition

ISBN:9781285635101

Author:MCEACHERN

Publisher:MCEACHERN

Chapter6: Consumer Choice And Demand

Section: Chapter Questions

Problem 2QFR

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Question

According to the law of diminishing marginal utility, what happens as a consumer consumes more units of a good?

A. Total utility increases at a decreasing rate.
B. Marginal utility increases at a decreasing rate.
C. Total utility decreases at an increasing rate.
D. Marginal utility decreases at an increasing rate.

Definition Definition Satisfaction derived from the consumption of an additional unit of any commodity.

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According to the law of diminishing marginal utility: a. as you consume less of something, your total utility will decrease. b. as you consume less of something, your marginal utility from consuming that good will increase c. you should never consume more of something if your marginal utility is decreasing. d. If your total utility is increasing as you consume more of something, then your marginal utility must be increasing as well.
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#10. Assume that Thomas can afford to buy as many candy bars and ice cream cones as he wants. He would continue to consume both candy bars and ice cream until the a. marginal utility of each decreases. b. marginal utility of each becomes negative. c. total utility of each becomes negative. d. marginal utility of candy bars and ice cream bars is equal. e. total utility of candy bars and ice cream bars is equal.
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