Post Utme Uniport 2023 Economics Question 32

Practice objective / multiple choice question 32 from the 2023 Post Utme Uniport Economics examination.

Post Utme Uniport 2023 Economics Objective / Multiple Choice
Question 32 POST_UTME_UNIPORT • 2023 • ECONOMICS • objective

The concept of utility refers to the satisfaction or pleasure derived from consuming a good or service. What is the law of diminishing marginal utility?

Answer Options

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

About This Question

This is Post Utme Uniport 2023 Economics Question 32. It is one of the objective questions from the 2023 Post Utme Uniport Economics examination.

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