The property that marginal utility falls as the quantity consumed of a single good or service rises. This is neither necessary nor sufficient for most common results in economic theory, but it is a property of mostutility functions that are well behaved.
Related information about diminishing marginal utility:
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Economists sometimes speak of a law of diminishing marginal utility, meaning that ... 1 Marginality; 2 Utility; 3 Diminishing marginal utility; 4 Marginalist theory ...
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Noun, 1. marginal utility - (economics) the amount that utility increases with an increase of one unit of an economic good or service. economic science ...
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LAW OF DIMINISHING MARGINAL UTILITY: The principle stating that as more of a good is consumed, eventually each additional unit of the good provides less ...
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If there is diminishing marginal utility of income, as the cross sectional studies suggest, then the point-of-time pattern should be replicated over time as income ...