Diminishing marginal utility is an economic concept that states that as a person consumes more units of a particular good or service, the satisfaction or utility gained from each additional unit will begin to decrease. In other words, the more of something a person consumes, the less value or satisfaction they derive from each additional unit. This concept is derived from the observation that people tend to have a limited capacity to enjoy or benefit from a particular good or service, leading to a decreasing marginal benefit with each additional unit consumed.
Diminishing marginal utility is an economic concept that explains the decrease in satisfaction or usefulness a person derives from consuming additional units of a product or service. It states that as a person consumes more of a certain good or service, the additional utility gained from each additional unit decreases. In other words, the more you have of something, the less value you place on obtaining additional units of that thing.
