-Refer to the above table. Robert's utility schedule shows
A) diminishing marginal utility throughout the entire schedule.
B) initially increasing marginal utility and then decreasing marginal utility.
C) initially decreasing marginal utility and then increasing marginal utility.
D) increasing marginal utility throughout the entire schedule.

Question

-Refer to the above table. Robert's utility schedule shows
A) diminishing marginal utility throughout the entire schedule. 
B) initially increasing marginal utility and then decreasing marginal utility. 
C) initially decreasing marginal utility and then increasing marginal utility. 
D) increasing marginal utility throughout the entire schedule.

Quizplus · Accepted Answer

Diminishing marginal utility means that as more units of a good are consumed, the additional satisfaction from consuming each additional unit decreases. This is a common pattern in utility schedules.

-Refer to the Above Table