Concept:The law explains how additional satisfaction from each extra unit falls as consumption increases.
Explanation:When you consume more units of a good, total utility rises.
However, each successive unit adds less satisfaction than the previous one.
This means marginal utility decreases steadily.
For example, the first piece of bread gives high satisfaction, but the fourth piece gives much less.
Therefore, utility grows at a slower and slower rate with each extra unit consumed.
Option A is wrong because a normal supply curve slopes upward, not downward.
Option C is wrong because this law does not refer to elasticity of demand.
Option D is incorrect because option B correctly describes the law.
Answer:B. Your utility grows at a slower and slower rate as you consume more and more unit of a good.