The fact that your fourth slice of pizza does not generate as much satisfaction as your third slice is an example of
A)consumer surplus.
B)diminishing total utility.
C)diminishing marginal utility.
D)the paradox of value.
E)the law of demand.

Question

Quizplus · Accepted Answer

Diminishing marginal utility refers to the decrease in satisfaction or usefulness that a consumer derives from consuming an additional unit of a good or service. In this case, the fourth slice of pizza may still provide some utility, but the amount of satisfaction has decreased compared to the third slice.

The Fact That Your Fourth Slice of Pizza Does Not