If successive units of a good are consumed, the marginal utility gained typically:
A)increases at the same rate for all people.
B)increases at different rates for different people.
C)decreases at the same rate for all people.
D)decreases at different rates for different people.

Question

Quizplus · Accepted Answer

The principle of diminishing marginal utility suggests that as a person consumes more units of a good, the additional satisfaction (marginal utility) gained from consuming each additional unit typically decreases. However, the rate at which it decreases can vary among different people due to individual preferences, needs, and circumstances.

If Successive Units of a Good Are Consumed, the Marginal