The principle of decreasing marginal benefit implies that the
A) total benefit from obtaining more of a good or service decreases as more is consumed.
B) total benefit from obtaining more of a good or service remains the same as more is consumed.
C) additional benefit from obtaining one more of a good or service decreases as more is consumed.
D) additional benefit from obtaining one more of a good or service increases as more is consumed.

Question

Quizplus · Accepted Answer

The principle of decreasing marginal benefit states that as an individual consumes more of a good or service, the satisfaction (benefit) gained from consuming each additional unit decreases. This does not necessarily mean the total benefit decreases or remains the same, but rather that the incremental or marginal benefit decreases.

The Principle of Decreasing Marginal Benefit Implies That the