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Answer :
3) The Law of Diminishing Marginal Utility explains that as you consume more units of a good.
This law states that as you consume more units of a good or service, the additional satisfaction (or utility) you get from each additional unit tends to decrease.
For example, on a hot sunny day, the first scoop of ice cream you consume provides the most pleasure. When you have a second scoop, it also gives satisfaction but perhaps less than the first one.
By the time you reach the fourth scoop, the additional satisfaction you get is significantly less. This is because, as you become more 'full' or satiated with each additional scoop, each one provides less 'utility' than the previous one.
Therefore, the fourth scoop of ice cream following three previous scoops will not be as delightful as the very first scoop you enjoyed!
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