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Sagot :
Answer:
diminishing marginal utility
Explanation:
Utility can be defined as any satisfaction or benefits a customer derives from the use of a product or service.
In Economics, the marginal utility of goods and services is the additional satisfaction that a consumer derives from consuming or buying an additional unit of a good or service.
The law of diminishing marginal utility states that as the unit of a good or service consumed by an individual increases, the additional satisfaction he or she derives from consuming additional units would start decreasing or diminishing as the units of good or service consumed increases.
This ultimately implies that, as individuals use additional (extra) quantities of a product, they begin to encounter diminishing marginal utility, resulting in a decline of extra satisfaction.
For example, buying a candy stick and eating it may satisfy your cravings but eating another one (an additional or extra unit) wouldn't give you as much satisfaction as the first due to diminishing marginal utility.
The utility is considered as any satisfaction or benefits derived by a customer from the use of a product or service.
What exactly do you mean by "diminishing marginal utility"?
According to the law of declining marginal utility, when the unit of a good or service used by an individual grows, the additional enjoyment he or she obtains from consuming additional units begins to decrease or diminish.
This eventually means that as people utilize more (extra) amounts of a product, their marginal utility decreases, resulting in a decrease in extra satisfaction.
Thus, diminishing marginal utility is the correct answer for the blank.
For more information about marginal utility refer to the link:
https://brainly.com/question/15561406
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