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The law of diminishing marginal utility is used to explain the nature of the consumer satisfaction when an individual consumes more and more units of a good continuously.
According to this law, when an individual consumes a good continuously, an additional or marginal satisfaction obtained from each additional unit consumed will decrease.
Hence, the correct option is: c.
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Question:
Answer:
Step 1
The law of diminishing marginal utility is used to explain the nature of the consumer satisfaction when an individual consumes more and more units of a good continuously.
Step 2
According to this law, when an individual consumes a good continuously, an additional or marginal satisfaction obtained from each additional unit consumed will decrease.
Hence, the correct option is: c.