The law of diminishing marginal utility insures that A. the total utility curve will eventually increase at an increasing rate. B. the total utility curve will eventually increase at a constant rate. C. the total utility curve will eventually increase at a decreasing rate. D. All of the above.

Question

Darren Atkinson

Business

1 April, 14:42

The law of diminishing marginal utility insures that A. the total utility curve will eventually increase at an increasing rate. B. the total utility curve will eventually increase at a constant rate. C. the total utility curve will eventually increase at a decreasing rate. D. All of the above.

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Answers (1)

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Miriam David · Answer 1

The correct option is C

Explanation:

The diminishing marginal utility law, is the law which states all else being equal as there is rise in consumption, the marginal utility rises of every extra or additional unit decrease.

And the marginal utility is the described or stated as the utility which changes or varies when an additional unit is consumed.

So, the law states or insures that the curve of the total utility will increase at the decreasing rate, as there will be more consumption at the decreasing rate.