unit 1 economic fundamentals test\nwhat is the law of diminishing marginal utility?\nthe more choices you…
unit 1 economic fundamentals test\nwhat is the law of diminishing marginal utility?\nthe more choices you make the easier it becomes\neach tradeoff you make results in an upgrade\nthe more you consume of something, the less satisfaction you will get from each additional unit\na products usefulness will decrease over time
Answer
Brief Explanations:
The Law of Diminishing Marginal Utility states that as a consumer consumes more of a good or service, the additional satisfaction (marginal utility) derived from each additional unit decreases. For example, the first slice of pizza might be very satisfying, but with each additional slice, the extra satisfaction lessens.
Answer:
C. The more you consume of something, the less satisfaction you will get from each additional unit