Post Utme Coal City University 2019 Economics Question 37

Practice objective / multiple choice question 37 from the 2019 Post Utme Coal City University Economics examination.

Post Utme Coal City University 2019 Economics Objective / Multiple Choice
Question 37 POST_UTME_COAL_CITY_UNIVERSITY • 2019 • ECONOMICS • objective

A firm's demand curve is downward sloping because of the law of diminishing marginal utility. Which of the following is a correct statement about the law of diminishing marginal utility?

Answer Options

Correct Answer A. As the quantity of a good consumed increases, the marginal utility of each additional unit decreases.
B. As the quantity of a good consumed increases, the marginal utility of each additional unit increases.
C. The marginal utility of a good is cons\tant regardless of the quantity consumed.
D. The marginal utility of a good is zero when the quantity consumed is zero.
Correct Answer
A
Correct Option:
As the quantity of a good consumed increases, the marginal utility of each additional unit decreases.

About This Question

This is Post Utme Coal City University 2019 Economics Question 37. It is one of the objective questions from the 2019 Post Utme Coal City University Economics examination.

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