Refer to the accompanying figure. For Jeff, the consumption of movies reflects the law of:
A)demand.
B)diminishing marginal utility.
C)total utility maximization.
D)marginal utility maximization.

Question

Refer to the accompanying figure. For Jeff, the consumption of movies reflects the law of: 
A)demand. 
B)diminishing marginal utility. 
C)total utility maximization. 
D)marginal utility maximization.

Quizplus · Accepted Answer

As Jeff consumes (or, watches)more movies, his marginal utility decreases, consistent with the law of diminishing marginal utility.

Refer to the Accompanying Figure