The law of Diminishing Marginal Utility implies that the marginal utility of a good decreases as:

A. It gets more expensive

B. A household consumes more of it

C. Preference changes

D. A households income goes up

Please do not use chat terms. Example: avoid using "grt" instead of "great".

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  1. The right of individuals to control productive resources is known as:
  2. If the price of coffee increases, you would predict that:
  3. Inputs or Factors of production are defined as:
  4. In modern cost theory, AVC= b1 and MC= b1 in the range of:
  5. If two goods are perfect substitutes then IC will be:
  6. Monopolistic firm can fix:
  7. The Chamberline model recognizes mutual:
  8. On all points of budget (price) line:
  9. Which of the following would be least likely to cause a consumer to eat less beef?
  10. The Law of Proportionality is another name of:
  11. If at the unchanged price, the demand for a commodity goes up, or the quantity demanded remains the…
  12. The elasticity of substitution measures the percentage change in the ratio of inputs when any producer…
  13. The firm producing at the minimum point of the AC curve is said to be:
  14. In second degree price discrimination, monopolist takes away :
  15. A firm under perfect competition has:
  16. Given a U shaped average cost curve, the relationship between average cost and marginal cost is such…
  17. The long run average cost curve is:
  18. Which industries spend a relatively large share of their revenue on research and development in order…
  19. The effects according to which people use those goods which are concerned with distinctive standard…
  20. In the long run:
  21. In the case of two factor inputs which are neither perfectly complementary nor perfect substitutes,…
  22. In the long-run competitive equilibrium, the theory predicts that:
  23. Price discrimination is possible:
  24. To calculate the elasticity of demand, which of the following formula is used?:
  25. In monopolistic competition, the firms follow:
  26. Identify the author of The Affluent Society?
  27. The largest possible loss that a firm will make in the short run is:
  28. Price elasticity of demand can be measured in the following way:
  29. Income distribution effects:
  30. Which is the correct statement?