According to the law of diminishing marginal utility, the marginal utility for a particular product
A) remains constant, regardless of how much of the product is consumed.
B) remains constant as long as the product is still considered useful.
C) decreases as more of the product is consumed.
D) increases as more of the product is consumed.
Answer: C
Economics
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The demand curve for labor shows how many hours workers demand to work
Indicate whether the statement is true or false
Economics
Refer to the figure below. If the relevant curves are MC1 and MB2, a rational consumer will acquire ________ units of information, the amount for which marginal benefit for information is ________ its marginal cost.
A. 5; equal to B. 5; more than C. 4; more than D. 4; equal to
Economics