The "law" of diminishing marginal utility implies that the
A) total utility is constant as more units are consumed.
B) last unit of a good consumed will contribute most to the consumer's satisfaction.
C) marginal utility of a good diminishes over time.
D) first unit of a good consumed will contribute most to the consumer's satisfaction.
E) total utility is negative.
Ans: C) marginal utility of a good diminishes over time.
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