Post Utme Igbinedion University 2021 Economics Question 20

Practice objective / multiple choice question 20 from the 2021 Post Utme Igbinedion University Economics examination.

Post Utme Igbinedion University 2021 Economics Objective / Multiple Choice
Question 20 POST_UTME_IGBINEDION_UNIVERSITY • 2021 • 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 decreases. Which of the following is a consequence of this law?

Answer Options

A. The demand for the good increases
B. The supply of the good increases
C. The price of the good increases
Correct Answer D. The quantity demanded of the good decreases
Correct Answer
D
Correct Option:
The quantity demanded of the good decreases

About This Question

This is Post Utme Igbinedion University 2021 Economics Question 20. It is one of the objective questions from the 2021 Post Utme Igbinedion University Economics examination.

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