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Question 15

The law of diminishing marginal utility applies to a

  • A.firm which minimizes cost
  • B.consumer who maximizes satisfaction
  • C.producer who maximizes marginal product
  • D.consumer who minimizes total utility
Objective

Question details

Exam body
WAEC
Subject
Economics
Year
2012
Question no.
#15
Type
Objective
Previous · Q14If a particular consumer derives total utility of 22 units having consumed 4… Next · Q16 why is the law of diminishing returns a short run phenomenon?

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