Meaning of law of diminishing marginal utility

 


 

Law of diminishing marginal utility

 

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Economics terminology

 

Glossary of economics terms and concepts

 

Meaning and definition of law of diminishing marginal utility

 

The principle that as a consumer increases the consumption of a good or service, the marginal utility obtained from each additional unit of the good or service decreases.

 

For the term law of diminishing marginal utility may also exist other definitions and meanings, the meaning and definition indicated above are indicative not be used for medical and legal or special purposes.

 

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Glossary of economics terms and concepts

 

Law of diminishing marginal utility

 

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Meaning and definition of law of diminishing marginal utility

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Meaning and definition of law of diminishing marginal utility
Law of diminishing marginal utility