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What is the principle of diminishing marginal utility?

A.Jay

wrote...

Posts: 273

Rep:

5 years ago

What is the principle of diminishing marginal utility?

What is the principle of diminishing marginal utility?

Textbook

Economics Today: The Micro View

Economics Today: The Micro View

Edition: 19^th

Author: Miller

Read 52 times

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Marctheshark

wrote...

#1

5 years ago

The principle of diminishing marginal utility is that as more of any good is consumed the extra satisfaction derived declines. Increases in total utility from the consumption of a good becomes smaller and smaller as more of the good is consumed in a given time period.

A.Jay Author

wrote...

#2

5 years ago

Helps a lot... Now I'm ready for my quiz

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