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Question
If a person has already consumed many mangoes, he will desire to consume _______ of them when still more mangoes are offered.
If a person has already consumed many mangoes, he will desire to consume _______ of them when still more mangoes are offered.
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Solution
The correct option is B less
He will consume less mangoes as his marginal utility would be reducing and he does not derive the same level of satisfaction with consuming the mangoes anymore. This is based on the Law of Diminishing Marginal Utility.
He will consume less mangoes as his marginal utility would be reducing and he does not derive the same level of satisfaction with consuming the mangoes anymore. This is based on the Law of Diminishing Marginal Utility.
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