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The law of diminishing marginal utility indicates that if a consumer increases his consumption of...

Economics
JAMB 2020

The law of diminishing marginal utility indicates that if a consumer increases his consumption of a commodity continously

  • A. total utility must fall
  • B. marginal utility must fall
  • C. marginal utility may rise
  • D. marginal utility may fall even though his total utility may be rising
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Correct Answer: Option B
Explanation

The law of diminishing marginal utility states that as a consumer consumes an item or a product, the satisfaction or utility that they derive from the product reduces as they consume more and more of that product.

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