Q. Which best expresses the law of diminishing marginal utility?
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(A)
the more consumption of a product, the smaller is the total and marginal utilityfrom the consumption.
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(B)
the less consumption of a product, the greater is the total and marginal utilityof the consumption.
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(C)
the more consumption of a product, the smaller is the marginal utility fromconsuming an additional unit.
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(D)
the more consumption of a product, the smaller is the total and marginal utilityfrom the consumption.
✅ Correct Answer: (C)
the more consumption of a product, the smaller is the marginal utility fromconsuming an additional unit.