Post Utme Esut 2017 Economics Question 21

Practice objective / multiple choice question 21 from the 2017 Post Utme Esut Economics examination.

Post Utme Esut 2017 Economics Objective / Multiple Choice

Question 21 POST_UTME_ESUT • 2017 • ECONOMICS • objective

The concept of diminishing marginal utility is a fundamental principle in consumer behavior. Which of the following best describes this concept?

A. The more a consumer buys of a good, the lower the price they are willing to pay for it.

B. The more a consumer buys of a good, the higher the satisfaction they derive from it.

Correct Answer C. The more a consumer buys of a good, the lower the marginal utility they derive from it.

D. The more a consumer buys of a good, the higher the price they are willing to pay for it.

Correct Answer

Correct Option:

The more a consumer buys of a good, the lower the marginal utility they derive from it.

This is Post Utme Esut 2017 Economics Question 21. It is one of the objective questions from the 2017 Post Utme Esut Economics examination.

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