The law of diminishing marginal utility states that at some point, a person's marginal utility from additional consumption

Answer 1

of a good or service will decrease as more of it is consumed. This means that as a person consumes more of a good or service, the satisfaction or benefit they receive from consuming each additional unit will decrease. This occurs because each additional unit consumed is less valuable or necessary than the previous unit, so the person may begin to feel less satisfaction or benefit from each additional unit. Eventually, the person may reach a point where the marginal utility of consuming additional units becomes negative, leading to a decrease in overall satisfaction or benefit from consuming the good or service.