Thinking about the total utility gained from the consumption of a typical good,we can say in general that:
A) total utility will rise, peak, and then decline as more and more units are consumed.
B) consuming more and more units of a good will eventually cause marginal utility to increase
C) total utility increases by decreasing amounts, until it is maximized. Then it declines.
D) total utility is maximized where the marginal utility is greatest.

Question

Quizplus · Accepted Answer

This is the principle of diminishing marginal utility, which states that as more and more units of a good are consumed, the additional satisfaction (or marginal utility) from each unit decreases, leading to a peak in total utility and eventually a decline.

Thinking About the Total Utility Gained from the Consumption of a Typical