The additional pleasure or satisfaction from a good declines as more of it is consumed in a given period.This is the definition of the
A)Law of demand.
B)Law of diminishing marginal utility.
C)Law of diminishing total utility.
D)Total revenue rule.

Question

Quizplus · Accepted Answer

The Law of Diminishing Marginal Utility states that as more units of a good are consumed in a given period, the additional satisfaction or pleasure obtained from each additional unit declines. This concept is important in understanding consumer behavior and demand curves.

The Additional Pleasure or Satisfaction from a Good Declines as More