The law of diminishing marginal utility states that:
a. the marginal utility of all products consumed must be equal.
b. as more of a good or service is consumed, the marginal utility derived from it, relative to other products, increases.
c. as more of a good or service is consumed, the marginal utility derived from it decreases.
d. as more of a good or service is consumed, the marginal utility derived from it, relative to other products, remains the same.
e. the marginal utility of the last unit consumed of any good is less than the marginal utility of all other products consumed.