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.

Question

Quizplus · Accepted Answer

The Law of diminishing marginal utility states that as more of a good is consumed in a given period, the additional pleasure or satisfaction from it declines. This means that each additional unit of the good consumed gives less and less satisfaction or utility to the consumer.

The Additional Pleasure or Satisfaction from a Good Declines as More