The term ___________________ is used to describe the common pattern whereby each marginal unit of a consumed good provides less of an addition to utility than the previous unit.
A) diminishing marginal utility
B) marginal utility pattern
C) marginal income utility
D) decreasing marginal utility

Question

Quizplus · Accepted Answer

The term "diminishing marginal utility" refers to the economic principle that as a person consumes more units of a good, the additional satisfaction or utility gained from consuming each additional unit decreases.

The Term ___________________ Is Used to Describe the Common Pattern