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7. In economics, what principle indicates the value placed on a product lessens as consumption increases?A. Demand value B. Supply utility C. Diminishing marginal utility D. Scarcity value
In economics, the diminishing marginal utility of a good or service is the utility gained (or lost) from an increase (or decrease) in the consumption of that good or service.
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User: 7. In economics, what principle indicates the value placed on a product lessens as consumption increases?A. Demand value B. Supply utility C. Diminishing marginal utility D. Scarcity value

Weegy: In economics, the diminishing marginal utility of a good or service is the utility gained (or lost) from an increase (or decrease) in the consumption of that good or service.
Expert answered|ardefepatino|Points 20|

User: 8. This is the point at which the supply of the product just meets the demand for it 8. This is the point at which the supply of the product just meets the demand for it

Weegy: The point where supply and demand meet is called market equilibrium.
Expert answered|ardefepatino|Points 20|

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Asked 7/18/2013 9:13:28 PM
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What law shows that there is a direct relationship between the price of a product and the amount that is supplied in the market?A. Law of demand B. Law of market price C. Law of market systems D. Law of supply
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Updated 8/4/2014 9:43:19 AM
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Law of supply shows that there is a direct relationship between a price of a product and the amount that is supplied in the market.
Added 8/4/2014 9:43:16 AM
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Confirmed by sujaysen [8/4/2014 2:28:53 PM]
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