Which of the following is explained by the law of diminishing marginal utility?
A)The marginal utility of Isabel's second bottle of Coca-Cola is greater than the marginal utility of her third bottle of Coca-Cola.
B)The marginal utility of Isabel's second bottle of Coca-Cola is greater than the marginal utility of her third pretzel.
C)The marginal utility of Isabel's second bottle of Coca-Cola is greater than the marginal utility of her friend Margie's third pretzel.
D)The total utility of one bottle of Coca-Cola is greater than the total utility of two bottles of Coca-Cola.

Question

Quizplus · Accepted Answer

The law of diminishing marginal utility states that as a person consumes more units of a good, the additional satisfaction (marginal utility) from each additional unit decreases. Thus, the marginal utility of the second bottle is greater than that of the third bottle.

Which of the Following Is Explained by the Law of Diminishing