In a given time period, a person consumes more and more of a good or service and, as a result, enjoys each additional unit less and is willing to pay less for each additional unit. This behavior is consistent with the law of
A) diminishing returns
B) diminishing marginal product
C) diminishing marginal utility
D) increasing costs
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “In a given time period, a person consumes more and more of a good or service and, as a result, enjoys each additional unit less and is ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Why does unoka consult the oracle? what does the oracle tell him?
Answers (1)
A product has three components, A, B, and C, with reliabilities of 0.95, 0.98, and 0.995. Engineers intend to put a redundant component A that has reliability 0.70. With this change explain what will happen to system reliability.
Answers (1)
3. The equilibrium price of a guidebook is $35 in the perfectly competitive guidebook industry. Our firm produces 10,000 guidebooks for an average total cost of $38, marginal cost of $30, and average variable cost of $30.
Answers (1)
Differences between chain stores and departm ental stores
Answers (1)
Which answer is not true? the u. s. treasury, through its bureau of the mint and bureau of engraving and printing, produces the nation's dollar and coin supply.
Answers (1)
New Questions in Business
What's it called when you look in the internet for medical symptoms?
Answers (1)
Rob Grier, a friend of yours, has recently purchased a home for $125,000, paying $25,000 down and the remainder financed by a 10.5%, 20-year mortgage, payable at $998.38 per month.
Answers (1)
A company did not receive all the items it was invoiced for; the invoice noted a 2% discount if paid in ten days. the company should:
Answers (1)
What, if anything, should you do to correct the following sentence? He has the ability to affect the outcome, but he's not likely to take that chance. A. Nothing. The sentence is correct as it stands. B. Change affect to effect. C.
Answers (2)
Tom has a life insurance policy with a $1.8 million benefit. If this money was put into an account with a 4.5% interest rate, how much income can his beneficiaries expect in case Freddy dies
Answers (1)