Which conclusion does diminishing marginal utility suggest

Question

Quizplus · Accepted Answer

Diminishing marginal utility suggests that the more of a good or service a person consumes, the less satisfaction they receive from each additional unit consumed. This means that the last dollar spent by a poor person is likely to provide more satisfaction than the last dollar spent by a rich person, implying that the poor may receive more satisfaction overall from spending their income than the rich. Thus, option D is the best choice. Options A and B are incorrect because they do not reflect the concept of diminishing marginal utility, and option C does not necessarily follow from the concept.

Which Conclusion Does Diminishing Marginal Utility Suggest