law of diminishing marginal utility

noun

Economics.

the law that for a single consumer the marginal utility of a commodity diminishes for each additional unit of the commodity consumed.

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Example Sentences

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“When food fails to cheer up a Greek,” says the chef trained in the law of diminishing marginal utility at L’Institut Superieur Europeen de Gestion, “we have a serious equilibrium problem.”

From

law of definite composition law of dominance

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