The concept of diminishing marginal utility is embodied in the utilitarian rationale for:

Question

Quizplus · Accepted Answer

Diminishing marginal utility suggests that each additional unit of income or consumption provides less and less utility or value. Therefore, a utilitarian rationale would suggest that redistributing income from those with high levels of income to those with lower levels of income would maximize overall utility or well-being for society as a whole.

The Concept of Diminishing Marginal Utility Is Embodied in the Utilitarian