Question on: JAMB Economics - 2015
(\begin{array}{c|c}
\text{Units of quantity} & \text{Total utility} & \text{Marginal utility} \
\hline
0 & - & - \
\hline
1 & 10 & 10 \
\hline
2 & 15 & 5 \
\hline
3 & 17 & 2 \
\hline
4 & 18 & 1 \
\hline
5 & 18 & 0 \
\end{array})
The table illustrate the law of
A
admonishing returns
B
increasing returns
C
diminishing marginal utility
D
increasing marginal utility
Ask EduPadi AI for a detailed answer
Correct Option: C
It shows that when total utility is at the maximum, marginal utility equals zero.
Add your answer
Please share this, thanks!
No responses