Explain the rule of marginal

utility and how it works in real life.

Question

History

Guest

25 October, 16:48

Explain the rule of marginal

utility and how it works in real life.

+4

Answers (2)

Know the Answer?

Allison Washington · 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.

Hadley · 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.