Total utility is best defined by which of the following

Asked by admin @ 22/11/2021 in Business viewed by 343 People

Which of the following statements best describes the law of diminishing marginal utility?

A. As a consumer increases consumption of a good, the marginal utility received from that good increases.
B. As a consumer decreases consumption of a good, the marginal utility received from that good decreases.
C. As a consumer increases consumption of a good, the marginal utility received from that good decreases.
D. As a consumer decreases consumption of a good, the marginal utility received from that good increases.

Answered by admin @ 22/11/2021

The law of diminishing marginal utility states that as a
person increases consumption of a good while keeping consumption of other
products persistently then there is a drop in the marginal utility that person descends from consuming each extra unit of
that product. So the answer is letter C.

Able, baker, and charles are engaged in the marketing to and enrollment of beneficiaries into medicare health plans. mr. able is an independent agent paid directly by a health plan. ms. baker is an independent agent paid through a field marketing organization (fmo). mr. charles is an independent agent paid for his work by a third-party marketing organization (tmo). how do the cms compensation rules apply to these three agents?

Asked by maham237 @ 13/01/2021 in Business viewed by 2737 persons

Total utility is best defined by which of the following

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