ALL meanings of law of diminishing marginal utility
law of diminishing marginal utility
L l - noun law of diminishing marginal utility the law that for a single consumer the marginal utility of a commodity diminishes for each additional unit of the commodity consumed. 1
- noun law of diminishing marginal utility (economics) In economics, the theory there is a general decrease in the utility of a product, as more units of it are consumed. 0
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