Business Studies, asked by SHIVAMRAIKWAR, 2 months ago

state law of diminishing marginal utility​

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Answered by MiraculousBabe
23

Answer:

The "Law of Diminishing Marginal Utility" states that for any good or service, the marginal utility of that good or service decreases as the quantity of the good increases, ceteris paribus. In other words, total utility increases more and more slowly as the quantity consumed increases.

Answered by Casper608
15

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The "Law of Diminishing Marginal Utility" states that for any good or service, the marginal utility of that good or service decreases as the quantity of the good increases, ceteris paribus. In other words, total utility increases more and more slowly as the quantity consumed increases.

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