State the law of diminishing marginal utility

      

State the law of diminishing marginal utility

  

Answers


Wilfred
Diminishing marginal utility refers to the reducing (decreasing) nature of the additional
satisfaction derived from the consumption of an extra unit of a commodity and the law is thus stated –
“as successive additional units of a commodity are consumed, the extra satisfaction
derived continues to decline.”
Wilfykil answered the question on February 6, 2019 at 07:24


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