If, as a person consumes more and more of a good, each additional unit adds less satisfaction than the previous unit consumed, we are seeing the workings ofa) the law of demand. b) the law of supply. c) the law of increasing marginal opportunity cost. d) the law of diminishing marginal utility.

The correct answer is option D.

Explanation:

The law of demand states that keeping other things constant there is an inverse relationship between quantity demanded and price.

According to the law of increasing marginal opportunity cost with each additional output the marginal opportunity cost to produce next unit of output increases.

While the law of supply states that keeping other things constant there is a direct relationship between price and quantity supplied.

According to the law of diminishing marginal utility, the marginal utility derived from the consumption of each additional unit of good keeps declining as more and more unit of goods is consumed.

So, option D is the correct answer.

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.