The law of diminishing marginal utility explains that as a person consumes more of an item or product, the satisfaction (or the utility) they derive from it wanes.

The law of diminishing marginal utility states that as the marginal utility derived from each additional unit that's used declines as consumption increases. Learn more.

The law of diminishing marginal utility explains that as a person consumes more of an item or product, the satisfaction (or the utility) they derive from it wanes.

The Law of Diminishing Marginal Utility & How It Affects How Much You’re Spending. Antonio_Diaz / iStock.com. Andrew Lisa . Mon, Aug 16, 2021, 1:21 PM 3 min read.

One of the important contributions of Economics in public policy is the marginal (or extra, additional, incremental) analysis in the increase in cost and revenues, satisfaction and dissatisfaction, ...

The Law of Diminishing Marginal Utility It is one of the basic principles taught to students studying economics. Introduced by Lord Alfred Marshall, it forms a crux in the micro-economic level ...

The law of diminishing marginal utility says that as a consumer uses more and more of something, each additional unit provides less benefit. In other words, the marginal utility gets smaller.

The law of diminishing marginal utility states that all else equal, as consumption increases, the marginal utility derived from each additional unit declines.