The law of diminishing marginal utility states:
A)marginal utility is always going down.
B)as the amount of a good consumed increases, the marginal utility of that good tends to decline.
C)some goods have a lower marginal utility than others.
D)you can never have too much ice cream.
E)none of the above.

Question

Quizplus · Accepted Answer

The law of diminishing marginal utility states that as the amount of a good consumed increases, the marginal utility of that good tends to decline. This means that each additional unit consumed provides less additional satisfaction or utility compared to the previous unit consumed.

The Law of Diminishing Marginal Utility States