The more of a good that an individual has:
A)the higher is the marginal value.
B)the lower their level of satisfaction.
C)the lower is the total value.
D)the lower is the marginal value.

Question

Quizplus · Accepted Answer

The law of diminishing marginal utility states that as an individual consumes more of a good, the marginal utility (or value) they receive from each additional unit decreases. Therefore, as the individual has more of the good, the lower their marginal value will be.

The More of a Good That an Individual Has