what is law of diminishing marginal utility?Explain.
Answers
Answered by
0
law of diminishing marginal utility: as consumption increases the marginal utility deerrived from each additional unit decreases. For example you are so hungry and ate 1st spoon of food and eat 2nd as u r increasing (additional food) ur eating ur satisfaction of eating decreases and won't be like the 1st spoon this is marginal utility.
Similar questions