Diminishing marginal utility suggests that

Name: Diminishing marginal utility suggests that
Brand: Quizplus
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Question

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Diminishing marginal utility suggests that as consumption of a good or service increases, the satisfaction or utility gained from each additional unit decreases. Therefore, the poor, who have less disposable income, tend to receive more satisfaction from the last dollar spent compared to the rich who have more disposable income and may experience diminishing satisfaction from each additional dollar spent.

Diminishing Marginal Utility Suggests That