Question: Circle the correct answer. Engels Law states that a. marginal utility declines as more of a good is consumed during a specified period of time.

Circle the correct answer.

Engel’s Law states that

a. marginal utility declines as more of a good is consumed during a specified period of time.

b. as income rises, the portion of the dollar we spend on food falls.

c. as income rises, the portion of the dollar we spend on food rises.

d. as income rises, food expenditure also increases.

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