Explain the rule of marginal

utility and how it works in real life.

Question

Campbell Walsh

History

10 March, 12:32

Explain the rule of marginal

utility and how it works in real life.

+5

Answers (2)

Know the Answer?

Ryan Barron · Answer 1

In economics, the law of diminishing marginal utility states that the marginal utility of a good or service declines as its available supply increases. Economic actors devote each successive unit of the good or service towards less and less valued ends.

Carina Cunningham · Answer 2

Answer:In economics, the law of diminishing marginal utility states that the marginal utility of a good or service declines as its available supply increases. Economic actors devote each successive unit of the good or service towards less and less valued ends

Explain the rule of marginalutility and how it works in real life.

Explain the rule of marginal

utility and how it works in real life.