The principle of decreasing marginal benefit means that as the quantity of a good consumed
A) decreases, its marginal benefit decreases.
B) increases, its marginal benefit decreases.
C) increases, its total benefit decreases.
D) None of the above answers is correct.

Question

Quizplus · Accepted Answer

The principle of decreasing marginal benefit states that as more of a good is consumed, the additional (marginal) benefit from consuming one more unit of the good decreases. This is a common observation in economics, reflecting the intuitive idea that the more you have of something, the less you value additional amounts of it.

The Principle of Decreasing Marginal Benefit Means That as the Quantity