Q. Which best expresses the law of diminishing marginal utility? (Solved)
1. the more consumption of a product, the smaller is the total and marginal utilityfrom the consumption.
2. the less consumption of a product, the greater is the total and marginal utilityof the consumption.
3. the more consumption of a product, the smaller is the marginal utility fromconsuming an additional unit.
4. the more consumption of a product, the smaller is the total and marginal utilityfrom the consumption.
- c. the more consumption of a product, the smaller is the marginal utility fromconsuming an additional unit.