what-does-the-concept-of-diminishing-marginal-utility-imply

Question

What does the concept of diminishing marginal utility imply?

Accepted Answer

As more of a good is consumed, the additional satisfaction from consuming an extra unit decreases.

Answer

The price of a good decreases as more is consumed.

Answer

The total utility from consuming a good remains constant regardless of quantity.

Answer

As more of a good is consumed, the additional satisfaction from consuming an extra unit increases.