The marginal benefit of the first hotdog consumed is ________ the marginal benefit of the fifth hotdog consumed.
A) the inverse of
B) equal to
C) equal to 5 times
D) greater than
E) less than

Question

Quizplus · Accepted Answer

The marginal benefit of the first hotdog consumed is greater than the marginal benefit of the fifth hotdog consumed due to the principle of diminishing marginal utility, which states that as a person consumes more of a good, the additional satisfaction (marginal benefit) from consuming an additional unit of the good decreases.

The Marginal Benefit of the First Hotdog Consumed Is ________