In Figure 5.1, the marginal utility of income is
A. increasing as income increases.
B. constant for all levels of income.
C. diminishes as income increases.
D. None of the above is necessarily correct.
Answer:A
In Figure 5.1, the marginal utility of income is
A. increasing as income increases. B. constant for all levels of income. C. diminishes as income increases. D. None of the above is necessarily correct.