what name is given to statements that describe the world as it is?\no utility\no law of diminishing marginal…

what name is given to statements that describe the world as it is?\no utility\no law of diminishing marginal utility\no positive statements\no productive efficiency\nquestion 17\n2 pts\nas a person receives more of a good, the ____________ from each additional unit of the good declines.\no utility\no sunk costs\no marginal utility\no budget constraint

what name is given to statements that describe the world as it is?\no utility\no law of diminishing marginal utility\no positive statements\no productive efficiency\nquestion 17\n2 pts\nas a person receives more of a good, the ____________ from each additional unit of the good declines.\no utility\no sunk costs\no marginal utility\no budget constraint

Answer

Brief Explanations:

Positive statements in economics describe the world as it is. The law of diminishing marginal utility states that as a person consumes more of a good, the marginal utility (additional satisfaction) from each additional unit declines.

Answer:

Question 1: C. Positive statements Question 17: C. marginal utility