Step-by-step explanation:
Diminishing marginal utility is the concept that as a person consumes more of a good or service, the additional satisfaction they receive from each additional unit decreases. This is because people's needs are not all of equal importance, and as they satisfy their more important needs, they will start to focus on their less important needs.
Utilitarianism is a theory of morality that states that the best action is the one that produces the greatest good for the greatest number of people. In the context of income redistribution, utilitarians would argue that we should redistribute income from the rich to the poor because this would increase the overall happiness of society.
The reason why utilitarians believe that redistribution of income would increase happiness is because of diminishing marginal utility. The rich, who already have a lot of money, will not experience as much happiness from an additional dollar as the poor, who do not have as much money. Therefore, by taking money from the rich and giving it to the poor, we can increase the overall happiness of society.
Of course, there are other arguments against income redistribution, such as the argument that it is unfair to take money from people who have earned it. However, from a utilitarian perspective, the goal is to maximize happiness, not fairness.
