Which Statement Best Illustrates the Concept of Diminishing Marginal Utility

question 153

Multiple Choice

Which statement best illustrates the concept of diminishing marginal utility?

• A) As one consumes more hamburgers per week, one would be willing to pay a higher price for additional hamburgers.
• B) Some consumers will receive less satisfaction from consuming hamburgers than from consuming fried chicken.
• C) A typical consumer will receive less satisfaction from consuming the fourth hamburger than from the third hamburger in a week.
• D) A decrease in the price of hamburgers will cause consumers to buy more hamburgers because they can afford to buy more.