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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
Examples have not been reviewed.
“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.â€
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