As an individual consumes more of a given good or service,the marginal utility of that good to the consumer likely:
A) increases.
B) remains constant.
C) falls.
D) falls and then rises.

Question

Quizplus · Accepted Answer

The law of diminishing marginal utility states that as more of a good or service is consumed, the additional satisfaction or utility that each additional unit provides will eventually decrease. Therefore, the marginal utility of the good to the consumer is likely to fall as they consume more of it.

As an Individual Consumes More of a Given Good or Service,the