Question:
Which one of the following is the basis of diminishing marginal utility?
Which one of the following is the basis of diminishing marginal utility?
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Diminishing marginal utility is a fundamental concept, not derived from other laws.
Updated On: Nov 7, 2025
- Law of Demand
- Laws of Returns
- Law of Supply
- None of these
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Verified By Collegedunia
The Correct Option is D
Solution and Explanation
Step 1: The law of diminishing marginal utility states that as a person consumes more units of a good, the additional satisfaction from each unit decreases, assuming all else is constant.
Step 2: This is a standalone economic principle, not directly based on the Law of Demand, Laws of Returns, or Law of Supply.
Step 3: Therefore, the correct option is (D) None of these.
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