What is Law of Diminishing Marginal Utility? What is its Importance?
>> Monday, January 18, 2010
Definition of Law of Diminishing Marginal Utility
Law of Diminishing marginal utility states that if other things remain constant and if consumer increases the consumption of any product, then marginal utility will decreasing and after sometime it will be negative.
Law of Diminishing marginal utility states that if other things remain constant and if consumer increases the consumption of any product, then marginal utility will decreasing and after sometime it will be negative.
