What is diminishing marginal utility?
A) the decrease in additional benefit that you receive from an additional unit of a good or service as you consume more of it
B) the decrease in total benefit that you receive from an additional unit of a good or service as you consume more of it
C) the change in the average amount of happiness that you receive from each additional unit of consumption
D) the change in the average amount of happiness that you receive from one less unit of consumption

Question

Quizplus · Accepted Answer

Diminishing marginal utility refers to the principle that as a person consumes more of a good or service, the additional satisfaction (utility) gained from consuming an additional unit decreases.

What Is Diminishing Marginal Utility