Home » Classroom » SS2 Economics The Law of Diminishing Marginal Utility Question

What does the law of diminishing marginal utili... - SS2 Economics The Law of Diminishing Marginal Utility Question

What does the law of diminishing marginal utility state?

A

As a consumer consumes more units of a good or service, the additional satisfaction or happiness they derive from consuming each additional unit increases.

B

As a consumer consumes more units of a good or service, the additional satisfaction or happiness they derive from consuming each additional unit remains constant.

C

As a consumer consumes more units of a good or service, the additional satisfaction or happiness they derive from consuming each additional unit diminishes.

correct option: c
Please share this, thanks:

Add your answer

Notice: Posting irresponsibily can get your account banned!

No responses