Question

Explain the law of diminishing marginal utility? ​

Answer 1

Heya....

Law of Diminishing marginal utility :-

The statement of this law is :-

When a consumer consume more and more unite of a commodity then the utility driven with the every additional consumption decreases and goes negative....

This law is the based on cardinal approach that say utility are measurable.

This law says that in starting MY stays positive and with continues consumption it goes to decline..

Thank you

Answer 2

In this law MU remains +ve in starting consumption then goes to negative with the additional consumption

It is given by Marshall