The principle of decreasing marginal benefit implies that the
A)additional benefit from obtaining one more unit of a good or service decreases as more of that good or service is consumed.
B)additional benefit from obtaining one more unit of a good or service increases as more of that good or service is consumed.
C)total benefit from obtaining more of a good or service decreases as more is consumed.
D)total benefit from obtaining more of a good or service remains the same as more is consumed.
E)additional benefit from producing one more unit of a good or service decreases as more of that good or service is produced.

Question

Quizplus · Accepted Answer

The principle of decreasing marginal benefit states that as more of a good or service is consumed, the additional benefit obtained from obtaining one more unit of that good or service will decrease. This occurs because the consumer may have already satisfied their most urgent needs or wants with the earlier units consumed, and so the additional benefit from obtaining more units will be less valuable or important to them.

The Principle of Decreasing Marginal Benefit Implies That the