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MMLU-Pro / 7206 / What is the law of diminishing marginal utility?

Problem

Answer published by the source. Consult the official source to check your work against its answer.

question

What is the law of diminishing marginal utility?

category

economics

options

  1. This principle suggests that as more units of a good are consumed, the total utility decreases.
  2. The law asserts that the marginal utility of a good increases at a decreasing rate as consumption increases.
  3. The law suggests that utility does not change with consumption and remains static over time.
  4. It states that each additional unit of consumption yields greater utility than the previous one, indefinitely.
  5. It's a rule that says the first unit of a good or service consumed yields the least utility.
  6. The Law of Diminishing Marginal Utility refers to the fact that as successive units are consumed, the utility derived from each additional unit decreases beyond some point.
  7. It indicates that the utility derived from each additional unit consumed remains constant no matter how many units are consumed.
  8. It's the principle that states that as the quantity of a good decreases, the utility derived from each additional unit increases.
  9. The law states that utility increases with each unit consumed.
  10. The law claims that consumers derive equal utility from each additional unit consumed, regardless of the quantity already consumed.

src

stemez-Economics

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Source and history

upstream_id / Original problem ID
7206
task_id
3cc12839-9c79-553d-b5de-07a2f2a75180
task_key
default--test--7206
task_revision_id
1
config / split
default / test

Official source

initial import