Her expertise is in personal finance and investing, and real estate. In economics, the law of diminishing marginal utility states that the added benefit of consuming more of a product or service ...

You don't need to have studied economics to be familiar with the law of diminishing marginal utility and the idea of consumer surplus. The first has to do with the benefit consumers get from their ...

The answer is a simple economics concept, the concept of diminishing marginal utility. Other things equal, the more you have of something the less additional satisfaction comes from more of it.

That, more or less, is the concept of diminishing marginal utility, a clunky economic term for when consumers feel better about buying something the first time than they do about buying it again.

Invariably, one of the universal truths in the study of economics is the law of diminishing marginal utility. Simply defined, this law suggests that the additional satisfaction we obtain from ...

Investopedia / Daniel Fishel The law of diminishing marginal utility impacts a company’s pricing because the price must correspond to the consumer’s willingness to consume a product.

In economics, the law of diminishing marginal utility states that the added benefit of consuming more of a product or service declines as its consumption increases. That is, the satisfaction or ...