According to the law of diminishing marginal utility:
A) total utility is always falling.
B) total utility is always rising.
C) after some point, total utility falls.
D) after some point, the rate of change in total utility declines.

Question

Quizplus · Accepted Answer

The law of diminishing marginal utility states that as a person consumes more units of a good, the additional satisfaction (marginal utility) from each additional unit decreases, meaning the rate of increase in total utility declines after some point.

According to the Law of Diminishing Marginal Utility