According to the law of diminishing marginal utility as the amount of a good consumed increases the ...........

Indian Economy (CDS) Economy

According to the law of diminishing marginal utility, as the amount of a good consumed increases, the marginal utility of that good tends to

improve

diminish

remain constant

first diminish and then improve

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Explanation:

Economists use the concept of marginal utility to measure happiness and pleasure and how that affects consumer decision making. They have also identified the law of diminishing marginal utility, which means that the first unit of consumption of a good or service has more utility than the next units of consumption. Hence, the marginal utility of the good diminishes as the amount of good consumed increases.