What is an example of the law of diminishing marginal utility?
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Heya...
Law of diminishing marginal utility States that...
As a consumer continues his consumption then the marginal Utility derived from every additional unit tends to decline or be -ve & 0...
Example :-
If we continue to eat chips then in starting we find it good but as continue consumption it leads to decline...
Thank you
Law of diminishing marginal utility States that...
As a consumer continues his consumption then the marginal Utility derived from every additional unit tends to decline or be -ve & 0...
Example :-
If we continue to eat chips then in starting we find it good but as continue consumption it leads to decline...
Thank you
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