The law of diminishing marginal utility states that, the more a commodity is consumed the ________?

By: |Published on: Nov 10|Categories: Economics WAEC| 0 comments

A. higher the satisfaction derived from an additional unit
B. higher the price to be paid
C. lower the quantity supplied
D. lower the rate of increase in the total utility derived

Correct Answer: Option D

D. lower the rate of increase in the total utility derived

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