3
Question
The Law of Diminishing Marginal Utility states that the more a consumer consumes a product, he derives _____ from additional consumption.
The Law of Diminishing Marginal Utility states that the more a consumer consumes a product, he derives _____ from additional consumption.
Open in App
Solution
The correct option is C Lesser Utility
The Law
Of Diminishing Marginal Utility states that all else equal as consumption increases the marginal
utility derived from
each additional unit declines. Marginal utility is derived as
the change in utility as an additional unit is consumed. Utility is an
economic term used to represent satisfaction or happiness. The Law of
Diminishing Marginal Utility states that the more a consumer consumes a
product, he derives lesser utility from additional consumption
The Law Of Diminishing Marginal Utility states that all else equal as consumption increases the marginal utility derived from each additional unit declines. Marginal utility is derived as the change in utility as an additional unit is consumed. Utility is an economic term used to represent satisfaction or happiness. The Law of Diminishing Marginal Utility states that the more a consumer consumes a product, he derives lesser utility from additional consumption
Suggest Corrections
0
Similar questions
View More
Join BYJU'S Learning Program
Explore more
Join BYJU'S Learning Program
