The table given below records the total utility derived from the consumption of avocados.Table 7.2

-Refer to Table 7.2. The law of diminishing marginal utility holds _____.
A)for any number of avocados
B)up to five avocados
C)only for one or two avocados
D)only after five avocados are consumed
E)for the first three avocados

Question

The table given below records the total utility derived from the consumption of avocados.Table 7.2
 
-Refer to Table 7.2. The law of diminishing marginal utility holds _____.
A)for any number of avocados 
B)up to five avocados 
C)only for one or two avocados 
D)only after five avocados are consumed 
E)for the first three avocados

Quizplus · Accepted Answer

The law of diminishing marginal utility states that as a person consumes more of a good, the additional satisfaction (marginal utility) gained from consuming an additional unit of that good decreases. This principle applies regardless of the specific quantity, so it holds for any number of avocados.

The Table Given Below Records the Total Utility Derived from the Consumption