Which statement best illustrates the concept of diminishing marginal utility?
A. As one consumes more hamburgers per week, one would be willing to pay a higher price for additional hamburgers
B. Some consumers will receive less satisfaction from consuming hamburgers than from consuming fried chicken
C. A typical consumer will receive less satisfaction from consuming the fourth hamburger than from the third hamburger in a week
D. A decrease in the price of hamburgers will cause consumers to buy more hamburgers because they can afford to buy more
Answer: C
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