Math, asked by Anonymous, 4 months ago

HELLO DESCRIBE THE LAW OF MARGINAL UTILITY

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Answered by Mariyam121
1

Answer:

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.

Answered by Kingtgreat
0

Answer:

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It should be carefully noted that is the marginal utility and not the total utility than declines with the increase in the consumption of a good. ... The law of diminishing marginal utility means that the total utility increases but at a decreasing rate.

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