The principle of decreasing marginal benefit means that as the quantity of a good consumed
A) increases, its total benefit decreases.
B) decreases, its marginal benefit decreases.
C) increases, its marginal benefit decreases.
D) None of the above answers is correct.

Question

Quizplus · Accepted Answer

As the quantity of a good consumed increases, its marginal benefit decreases because each additional unit consumed provides less additional satisfaction or benefit than the previous unit consumed. This principle is known as the law of diminishing marginal utility.

The Principle of Decreasing Marginal Benefit Means That as the Quantity