28+ The Law Of Diminishing Marginal Utility Images. Marginal utility may decrease into negative utility, as it may become entirely unfavorable to consume another unit of any product. Like other economic concepts, the law of diminishing marginal utility is also criticised by some economists on the grounds of the following drawbacks it pertains
Explaining law of diminishing marginal return with diagrams, examples.
Graphical representation of law of diminishing marginal utility. A consumer is generally willing to pay more for a given quantity of good than what he actually pays at the price prevailing in the market. what this means is that if a consumer. The utility of additional units of goods increases as price falls, until price equals the marginal utility. The marginal utility gained from the xth unit of consumption is equal to the difference between the total utility gained from x units of consumption and the total utility gained from graphical representation of the law of diminishing marginal utility.
