What does the Law of Diminishing Marginal Utility state?

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Economics · Microeconomics

Verified Solution4 OptionsUpdated: October 2026👁️1 View

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Marginal utility decreases as the consumption of a particular good or service increases.

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Answer 1

Marginal utility remains constant with the consumption of a particular good or service.

Answer 2

Marginal utility is unrelated to the consumption of a particular good or service.

Answer 3

Marginal utility decreases as the consumption of a particular good or service increases.

Answer 4

Marginal utility increases with the consumption of a particular good or service.

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