If the marginal utility you derived from the last video game you played was 50 cents and the game costs 50 cents to play,
A)you have been playing the game too long.
B)you haven't been playing the game long enough.
C)you have maximized your total utility.
D)there is no way to determine whether you have played the game long enough.

Question

Quizplus · Accepted Answer

According to the law of diminishing marginal utility, as you consume more of a good, the additional satisfaction or benefit you receive from each additional unit will eventually decrease. When the marginal utility you derive from a good is equal to its price, you have maximized your total utility. This means that you have consumed the optimal amount of the good, and any additional consumption would decrease your total utility. Therefore, in this scenario, you have maximized your total utility by playing the game just enough to derive a marginal utility equal to its price.

If the Marginal Utility You Derived from the Last Video