The law of diminishing marginal utility implies that the marginal utility of my tenth pistachio nut is less than the marginal utility of my third pistachio nut, other things constant.

Question

Quizplus · Accepted Answer

The law of diminishing marginal utility states that as more units of a good are consumed, the additional satisfaction or utility that a consumer derives from consuming each additional unit of the good decreases, other things constant. Therefore, the marginal utility of the tenth pistachio nut is likely to be less than the marginal utility of the third pistachio nut, as the consumer's level of satisfaction with the good may have decreased after consuming several units.

The Law of Diminishing Marginal Utility Implies That the Marginal