Diminishing Utility Quiz

Froggy Jumps

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Test your understanding of the law.

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Amey Pangarkar

India

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Diminishing Utility Quiz


Froggy Jumps Diminishing Utility QuizOnline version Test your understanding of the law. by Amey Pangarkar 1 What does the law of diminishing marginal utility state? a The extra satisfaction from each additional unit falls as more are consumed. b Total satisfaction rises at an increasing rate. c All units give the same satisfaction regardless of quantity. 2 Which term describes the additional utility from one more unit? a Average utility b Total utility c Marginal utility 3 If you eat a slice of pizza and enjoy it a lot, the next slice gives: a More satisfaction b Less additional satisfaction c Equal satisfaction 4 Law of diminishing marginal utility helps explain: a Rightward shift of supply b Downward-sloping demand curve c Constant price elasticity 5 What happens to marginal utility as consumption increases without bound? a It becomes negative b It stays constant at initial level c It tends to zero 6 Diminishing utility is most associated with: a Irrational behavior b Rational consumer behavior c Fixed preferences only 7 Which scenario best illustrates diminishing marginal utility? a The first drink provides zero satisfaction b Each additional drink provides less satisfaction than the previous c Each drink provides the same satisfaction 8 If a good is non-satiable in theory, what does diminishing utility imply? a Even infinite units would give increasing satisfaction b Marginal utility never decreases c Total utility decreases 9 Which curve is typically affected by diminishing marginal utility? a Demand curve b Average cost curve c Supply curve 10 What term describes the average satisfaction per unit as consumption increases? a Total utility b Marginal utility c Average utility

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Diminishing Utility Quiz

Froggy Jumps

About this activity

Created by

Download the paper version to play

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Diminishing Utility QuizOnline version

by Amey Pangarkar

What does the law of diminishing marginal utility state?

Which term describes the additional utility from one more unit?

If you eat a slice of pizza and enjoy it a lot, the next slice gives:

Law of diminishing marginal utility helps explain:

What happens to marginal utility as consumption increases without bound?

Diminishing utility is most associated with:

Which scenario best illustrates diminishing marginal utility?

If a good is non-satiable in theory, what does diminishing utility imply?

Which curve is typically affected by diminishing marginal utility?

What term describes the average satisfaction per unit as consumption increases?