The correct answer is: B. Prof. A. Marshall.
The law of diminishing marginal utility is a fundamental concept in economics that states that as a consumer acquires more of a good, the additional satisfaction (or utility) that they receive from each additional unit of the good decreases.
The law of diminishing marginal utility was first proposed by Alfred Marshall in his 1890 book, Principles of Economics. Marshall argued that the law of diminishing marginal utility was a fundamental principle of human nature, and that it could be used to explain a wide range of economic phenomena.
The law of diminishing marginal utility has a number of important implications for economic theory. For example, it can be used to explain why consumers are willing to pay more for the first unit of a good than they are for subsequent units. It can also be used to explain why firms produce a variety of goods, rather than just one good.
The law of diminishing marginal utility is a powerful tool for understanding economic behavior. It is a fundamental concept that is used in a wide range of economic models.
The other options are incorrect.
- Option A is incorrect because Paul Samuelson was a Nobel Prize-winning economist 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z"/> Subscribe on YouTube