Asked by Devon Hupka on May 09, 2024
Verified
As an individual consumes more of a product within a given period of time, it is likely that each additional unit consumed will yield
A) successively less satisfaction.
B) successively more satisfaction.
C) the same amount of satisfaction.
D) less satisfaction for a while and then start to add more satisfaction.
Successively Less
Refers to a situation or process where there is a gradual decrease in quantity, quality, or intensity over time.
Satisfaction
A measure of how goods, services, or outcomes meet or exceed expectations, often related to customer or user experience.
- Comprehend essential elements of consumer behavior and market demand, including understanding the law of demand and identifying different kinds of goods.
Verified Answer
TW
Tesha WatkinsMay 16, 2024
Final Answer :
A
Explanation :
This concept is known as the Law of Diminishing Marginal Utility, which states that as a person consumes more units of a good or service, the additional satisfaction (utility) gained from each additional unit decreases.
Learning Objectives
- Comprehend essential elements of consumer behavior and market demand, including understanding the law of demand and identifying different kinds of goods.
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