Question

as per the law of diminishing marginal utility measurement of utility is assumed to be​

Answer 1

The Law Of Diminishing Marginal Utility states that all else equal as consumption increases the marginal utility derived from each additional unit declines. Marginal utility is derived as the change in utility as an additional unit is consumed. Utility is an economic term used to represent satisfaction or happiness.

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Answer 2

Answer:

The law of diminishing marginal utility states that the marginal utility of a good or service declines as its available supply increases. The law of diminishing marginal utility is used to explain other economic phenomena, such as time preference.

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