PHIL 1120 CHP 2 Flash Cards: the idea that a second unit of good typically yields less pleasure or happiness (utility) than the first, and so on. Typically used as part of an argument that maximizing utility favors equal distribution of goods.

Question

the idea that a second unit of good typically yields less pleasure or happiness (utility) than the first, and so on. Typically used as part of an argument that maximizing utility favors equal distribution of goods.

Samuel Aguirre · Accepted Answer

DIMINISHING MARGINAL UTILITY

PHIL 1120 CHP 2 Flash Cards

The idea that a second unit of good typically yields less pleasure or happiness (utility) than the first, and so on. Typically used as part of an argument that maximizing utility favors equal distribution of goods.

DIMINISHING MARGINAL UTILITY

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