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AP Microeconomics
Unit 1 – Basic Economic Concepts
Topic 1.6
What does diminishing marginal utility imply?
The price of a good decreases as its quantity consumed increases.
The total utility derived from a good always increases as we consume more.
As we consume more of a good, the additional satisfaction we get decreases.
The marginal utility per dollar remains constant for all goods.
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AP Microeconomics - 1.6 Marginal Analysis and Consumer Choice
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Diminishing Marginal Utility
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About Fiveable
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Resources
Cram Mode
AP Score Calculators
Study Guides
Practice Quizzes
Glossary
Crisis Text Line
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© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.
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