-If a graph of Robinson's marginal utility were constructed from Table 5-1B, it would
A)illustrate the "law" of diminishing marginal utility.
B)be a negatively sloped curve.
C)illustrate a typical consumer's satisfaction derived from consumption of consecutive units of a good.
D)All of the responses are correct.

Question

-If a graph of Robinson's marginal utility were constructed from Table 5-1B, it would
A)illustrate the "law" of diminishing marginal utility. 
B)be a negatively sloped curve. 
C)illustrate a typical consumer's satisfaction derived from consumption of consecutive units of a good. 
D)All of the responses are correct.

Quizplus · Accepted Answer

All the options describe characteristics of a graph illustrating the law of diminishing marginal utility, which shows that as a consumer consumes more units of a good, the additional satisfaction (marginal utility) from each additional unit decreases, leading to a negatively sloped curve that represents the decreasing marginal utility and thus illustrating a typical consumer's satisfaction from consumption.

-If a Graph of Robinson's Marginal Utility Were Constructed from Table