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‘As the stock of a commodity increases with the consumer, its marginal utility to the consumer decreases’. To which of the following laws d…

3354Medium DSSSB TGT Computer Science 0 replies 2 views

‘As the stock of a commodity increases with the consumer, its marginal utility to the consumer decreases’. To which of the following laws does the given statement refer to?

ALaw of Diminishing Marginal Utility
BLaw of Supply
CLaw of Elasticity
DLaw of Demand

Correct answer: A

Explanation

The law of diminishing marginal utility says that marginal utility decreases as the stock of a commodity increases.

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