The law of diminishing marginal utility states that the marginal utility of a product decreases with the consumption of successive units of the same product.<\/p>\n
In other words it means that as a consumer consumes more and more units of a specific product, the utility from the successive unit goes on diminishing.<\/p>\n
For instance, If a thirsty man drinks water, then the first glass that he drinks will have more utility as compared to the successive glasses of water that he drinks.<\/p>\n","protected":false},"excerpt":{"rendered":"
The law of diminishing marginal utility states that the marginal utility of a product decreases with the consumption of successive units of the same product. In other words it means that as a consumer consumes more and more units of a specific product, the utility from the successive unit goes on diminishing. For instance, If… Continue reading Law of Diminishing Marginal Utility<\/span><\/a><\/p>\n","protected":false},"author":10350,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"class_list":["post-232640","page","type-page","status-publish","hentry","entry"],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/pages\/232640","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10350"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=232640"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/pages\/232640\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=232640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}