if law of diminishing marginal utility does not afraid then what would happen in case of equilibrium into commodity model under cardinal approach
Answers
Answered by
0
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. Marginal utility is the incremental increase in utility that results from consumption of one additional unit.
Similar questions