WAEC - Economics (2008 - No. 5)
The theory of diminishing marginal utility states that as more units of a commodity are consumed, the
satisfaction from an extra unit decreases
satisfaction from an extra unit rises
satisfaction from an extra units remains constant
total satisfaction from the goods remains the same
Penjelasan
The law of diminishing marginal utility states that, as the consumption of a particular commodity increases, the marginal utility/satisfaction gotten from the consumption of an additional unit of the said commodity will fall/decrease.