WAEC Economics 2019 Objective — Question 15
Question 15 of 50 from the West African Examinations Council (WAEC) Economics 2019 Objective paper, with the correct answer and a full explanation.
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[See Table 1: Units of quantity consumed 0–5, Total utility –,10,15,17,18,18, Marginal Utility –,10,5,2,1,0] Table 1 above illustrates the law of
- A. diminishing returns
- B. diminishing marginal productivity
- C. diminishing marginal utilityCorrect
- D. variable proportion
Explanation
As units consumed increase, marginal utility continually falls (10→5→2→1→0), illustrating the law of diminishing marginal utility.
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