Post Utme Abu 2023 Economics Question 11

Practice objective / multiple choice question 11 from the 2023 Post Utme Abu Economics examination.

Post Utme Abu 2023 Economics Objective / Multiple Choice
Question 11 POST_UTME_ABU • 2023 • ECONOMICS • objective

The law of diminishing marginal utility states that as the quantity of a good consumed increases, the marginal utility derived from each additional unit of the good decreases. Which of the following is a consequence of this law?

Answer Options

Correct Answer A. The total utility of the good increases at a decrea\sing rate.
B. The marginal utility of the good remains cons\tant.
C. The law of diminishing marginal utility is only applicable to normal goods.
D. The law of diminishing marginal utility is only applicable to inferior goods.
Correct Answer
A
Correct Option:
The total utility of the good increases at a decrea\sing rate.

About This Question

This is Post Utme Abu 2023 Economics Question 11. It is one of the objective questions from the 2023 Post Utme Abu Economics examination.

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