Question
Select the best answer.
The ______ utility typically decreases as the buyer consumes one more additional good or service.
income
marginal
diminishing
The ______ utility typically decreases as the buyer consumes one more additional good or service.
income
marginal
diminishing
Answers
GPT-4o mini
The best answer is **marginal**.
In economics, the concept of marginal utility refers to the additional satisfaction or utility that a consumer derives from consuming one more unit of a good or service. This typically decreases as more of the good or service is consumed, known as the principle of diminishing marginal utility.
In economics, the concept of marginal utility refers to the additional satisfaction or utility that a consumer derives from consuming one more unit of a good or service. This typically decreases as more of the good or service is consumed, known as the principle of diminishing marginal utility.