Question on: SS2 Economics - The Law of Diminishing Marginal Utility
What does the law of diminishing marginal utility state?
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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.
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Correct Option: C
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