The law of diminishing marginal utility says that.... ........... as a person consumes more and more of a certain good, the addition to total satisfaction decreases. ) as a person's income increases, the satisfaction associated with each dollar spent decreases. as a person consumes more and more of a certain good, the additional satisfaction increases. as a person's income increases, the satisfaction associated with each additional dollar earned increases.

The law of diminishing marginal utility says that.... ........... as a person consumes more and more of a certain good, the addition to total satisfaction decreases. ) as a person's income increases, the satisfaction associated with each dollar spent decreases. as a person consumes more and more of a certain good, the additional satisfaction increases. as a person's income increases, the satisfaction associated with each additional dollar earned increases.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

The law of diminishing marginal utility says that. .
.............
as a person consumes more and more of a certain good, the addition to total
satisfaction decreases.
as a person's income increases, the satisfaction associated with each dollar spent
decreases.
as a person consumes more and more of a certain good, the additional
satisfaction increases.
as a person's income increases, the satisfaction associated with each additional
dollar earned increases.

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Can you help me solve this question step by step, please?
Total utility O diminished as the quantity of a good increases increases as long as more goods are acquired increases as long as marginal utility increases O increases as long as marginal utility is positive diminishes as consumption of some good rises
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