As an individual consumes more of a particular commodity, the total level of utility derived from that consumption will
A) increase at an increasing rate.
B) increase at a decreasing rate.
C) increase at a constant rate.
D) remain constant.

Question

Quizplus · Accepted Answer

This is known as the law of diminishing marginal utility, which states that as an individual consumes more of a particular commodity, the additional utility (or satisfaction) derived from each additional unit consumed decreases, causing the total level of utility to increase at a decreasing rate.

As an Individual Consumes More of a Particular Commodity, the Total