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: Feb 26, 2026
- Law of Demand
- Laws of Returns
- Law of Supply
- None of these
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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.
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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