Is the law of diminishing marginal utility applicable in case of money
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NO,Law of diminishing marginal utility cannot be applicable on money ,it was applicable only on a individual commodity .
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NO,Law of diminishing marginal utility cannot be applicable on money ,it was applicable only on a individual commodity .
✨ Hope this helps you ✨
Answered by
9
The Law of Diminishing Marginal Utility is not applicable in case of money. This is because the consumer has greed for money. That is, the utility derived from the consumption of additional units of money tends to increase (instead of decreasing).
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