Diminishing Marginal Utility

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Definition: Diminishing Marginal Utility


Diminishing Marginal Utility

Quick Summary of Diminishing Marginal Utility


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.



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Definition Sources


Definitions for Diminishing Marginal Utility are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 22nd November, 2021 | 0 Views.