Which of the following best describes the most common pattern for marginal utility?

• A. Marginal utility fluctuates randomly with each additional unit consumed.
• B. Marginal utility remains constant regardless of consumption.
• C. Marginal utility decreases as more units of a good are consumed.
• D. Marginal utility increases as more units of a good are consumed.

Answer: (C)

Verified step by step guidance

1. Understand the concept of marginal utility: it is the additional satisfaction or benefit a consumer receives from consuming one more unit of a good or service.
2. Recall the Law of Diminishing Marginal Utility, which states that as a person consumes more units of a good, the additional satisfaction gained from each extra unit tends to decrease.
3. Analyze each option in the problem: random fluctuation, constant marginal utility, decreasing marginal utility, and increasing marginal utility.
4. Recognize that the most common and widely accepted pattern in microeconomics is that marginal utility decreases with each additional unit consumed, reflecting diminishing marginal utility.
5. Conclude that the correct description is: 'Marginal utility decreases as more units of a good are consumed.'