Which of the following best describes the principle of diminishing marginal utility? As an individual consumes more of a good:
A) the total utility obtained will eventually fall.
B) the total utility obtained will eventually become negative.
C) the addition to total utility obtained from the nth unit of the good will be less than that obtained from the immediately preceding unit of the good.
D) the marginal utility will eventually become negative.

Question

Quizplus · Accepted Answer

The principle of diminishing marginal utility states that as a person consumes more units of a good, the additional satisfaction (marginal utility) gained from consuming each additional unit decreases.

Which of the Following Best Describes the Principle of Diminishing