Q3 As an individual consumes more and more of a good, each additional unit brings about less and less utility. What is theterm for this effect?negative opportunity costnegative marginal utilitydiminishing marginal utilitydiminishing total utility

Marginal Utility refers to the additional satisfaction derived from consumption of an additional…

Answered: As an individual consumes more and more…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Q19
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As an individual consumes more and more of a good, each additional unit brings about less and less utility. What is the term for this effect? negative opportunity cost negative marginal utility diminishing marginal utility diminishing total utility