Which situation is consistent with the law of diminishing marginal utility?
A)The more pizza Joe eats, the more he enjoys an additional slice.
B)The more pizza Joe eats, the less he enjoys an additional slice.
C)Joe's marginal utility from eating pizza becomes positive after eating three slices.
D)Joe's marginal utility from eating pizza reaches a maximum when total utility is zero.

Question

Quizplus · Accepted Answer

The law of diminishing marginal utility states that as a person consumes more of a good, the additional satisfaction (marginal utility) gained from consuming an additional unit of that good decreases. Choice B accurately reflects this principle, as it describes Joe enjoying each additional slice of pizza less than the previous one.

Which Situation Is Consistent with the Law of Diminishing Marginal