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Which of the following describes a situation in which there would be decreasing marginal utility?

  • Question 7c of 10 - Utility

  • Maximum Attempts: 1
  • Question Type: Multiple Choice
  • Maximum Score: 2
  • Question: Which of the following describes a situation in which there would be decreasing marginal utility?
  • Answers:
  1. Buying a second winter coat.
  2. Buying only necessities.
  3. Buying a car to substitute for riding the bus.
  4. Buying food in bulk to save money in the long run.

The correct answer is: Buying a second winter coat. The utility of a new winter coat is decreased if you already have one.

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