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This is known as diminishing marginal utility. It is the principle that the satisfaction or utility derived from consuming each additional unit of a good decreases as more of it is consumed. This concept is a fundamental principle in economics and helps explain consumer behavior.

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4mo ago
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13y ago

The principle of diminishing marginal utility

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Q: What is this called when a buyer purchases a good each additional item type is less satisfying than the earlier one?
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