Diminishing marginal utility means that as you consume more of a good, other things constant, the:
A) total satisfaction you obtain from consuming this good falls.
B) total amount produced falls.
C) marginal product falls.
D) additional satisfaction you obtain from each additional unit of the good falls.
E) total satisfaction you obtain from each extra good becomes constant.

Question

Quizplus · Accepted Answer

Diminishing marginal utility is the idea that as you consume more of a good, the additional satisfaction you obtain from each additional unit of the good falls. In other words, the first few units of a good will provide a high level of satisfaction, but eventually, as you continue to consume more, the level of satisfaction will decrease.

Diminishing Marginal Utility Means That as You Consume More of a Good