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The most common term for marginal utility is
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8 votes
8 votes
The most common term for marginal utility is

User Achwilko
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15 votes
15 votes

Answer:

law of diminishing marginal utility.

Step-by-step explanation:

Economists use the idea of marginal utility to gauge how satisfaction levels affect consumer decisions. Economists have also identified a concept known as the law of diminishing marginal utility. It describes how the first unit of consumption of a good or service carries more utility than later units.

User Gpcola
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30 votes
30 votes

Answer:

The concept of marginal utility is used by economists to determine how satisfaction levels influence customer decisions. The law of diminishing marginal utility has also been found by economists. It describes how the first unit of an item or service consumed has more utility than subsequent units.

Step-by-step explanation:

User Mamaye
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