What phenomenon does the law of diminishing marginal utility describe ........

Economics (CUET) Consumer Behaviour and Demand

What phenomenon does the law of diminishing marginal utility describe?

Rising satisfaction from every added unit consumed.

Decreasing satisfaction from every added unit consumed.

Steady satisfaction regardless of consumption.

Satisfaction inversely related to price changes.

The law of diminishing marginal utility describes decreasing satisfaction from successive units of a good consumed.

It underlines why consumers may not purchase infinite quantities, even at low prices.

Rising, steady satisfaction or links to price change aren't part of this law.

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