Elijah has just eaten his second popsicle.Using the concept of marginal utility,we can say:
A)the utility he will gain from his third will reduce his total utility.
B)the utility he will gain from his third might reduce his total utility.
C)the utility he will gain from his third will likely be less than that of his second.
D)Both b and c are true.

Question

Quizplus · Accepted Answer

According to the law of diminishing marginal utility, the more an individual consumes a good or service, the less additional satisfaction or utility they will receive from consuming more of it. Therefore, as Elijah eats more popsicles, the utility he gains from each additional popsicle will decrease, which means both options b and c are likely true.

Elijah Has Just Eaten His Second Popsicle