During Thanksgiving you participated in a pumpkin-pie eating contest since you love pumpkin pie.You really enjoyed the first two pies,the third one was OK,but as soon as you ate the 4^th one you became ill and lost the contest.
Beyond the 3^rd pie your total utility

Question

Quizplus · Accepted Answer

The concept of diminishing marginal utility states that as we consume more of a good, the additional satisfaction (utility) we receive from consuming each additional unit of the good decreases. In this scenario, the utility gained from the first two pies was high, but with each additional pie, the incremental utility gained begins to decrease. By the time the contestant ate the fourth pie, the incremental utility gained was not worth the discomfort and illness caused by consuming too much. Therefore, beyond the third pie, the total utility decreases, making option B the correct answer.

During Thanksgiving You Participated in a Pumpkin-Pie Eating Contest Since