Question

The law of diminishing marginal utility states that
1.00
1 total utility falls as more of a good is consumed,other things constant
2total utility falls as marginal utility falls, other things constant marginal utility falls as total utility remains constant, other things constant
3marginal utility falls as more of a good is consumed, other things constant
4marginal utility falls as less of a good is consumed, other things constant​

Answer 1

Answer:

"What Is the Law of Diminishing Marginal Utility?

The law of diminishing marginal utility states that all else equal, as consumption increases, the marginal utility derived from each additional unit declines. Marginal utility is the incremental increase in utility that results from the consumption of one additional unit. The utility is an economic term used to represent satisfaction or happiness.

Explanation:

The law of diminishing marginal utility says that the marginal utility from each additional unit declines as consumption increases.

The marginal utility can decline into negative utility, as it may become entirely unfavorable to consume another unit of any product.

The marginal utility may decrease into negative utility, as it may become entirely unfavorable to consume another unit of any product."