Difference between revisions of "Law of Diminishing Marginal Utility"

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The Law of Diminishing Marginal Utility states that one's [[utility]] decreases with each additional unit of a [[good]] they purchase.
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The '''Law of Diminishing Marginal Utility''' states that one's marginal [[utility]] decreases with each additional unit of a [[good]] they purchase. One may still get positive utility from increased consumption, but at a smaller (and increasingly smaller) rate.
  
 
[[Category:Economics]]
 
[[Category:Economics]]

Latest revision as of 15:45, March 18, 2010

The Law of Diminishing Marginal Utility states that one's marginal utility decreases with each additional unit of a good they purchase. One may still get positive utility from increased consumption, but at a smaller (and increasingly smaller) rate.

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