Question

question 6 (multiple choice worth 4 points) (01.03 mc) which statement describes the law of diminishing marginal utility? making choices requires trade - offs and opportunity cost because of limited resources. a maximum amount exists for a good or service that will be purchased at a given price. the total amount of a good or service that people consume decreases as price decreases. there is a decrease in satisfaction from each additional unit of a good or service consumed.

Explanation:

The Law of Diminishing Marginal Utility states that as a consumer consumes more and more units of a good or service, the additional satisfaction (marginal utility) derived from each additional unit decreases.

Answer:

D. There is a decrease in satisfaction from each additional unit of a good or service consumed.