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Diminishing marginal utility

Food and Agricultural Produce
From Colombia
To Greece
399 views / 1 experts
Andrea T.
Jul 21, 2021

What is diminishing marginal utility?

1 answer

Amber S.
Jul 21, 2021

This is economic law stating that the amount of satisfaction derived from a particular good or service will diminish with each successive purchase of that good or service. The first donut you buy, for example, may satisfy your hunger, but each successive purchase will bring you less and less satisfaction.

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