What is the law of marginal utility?

The Law of Marginal Utility states that the more of a product or service a consumer has, the less additional satisfaction they will receive from consuming one additional unit.

For example, the first scoop of ice cream is usually more enjoyable than the fifth scoop.

The Law of Marginal Utility states that the value of an item decreases as its quantity increases.

The Law of Marginal Utility states that a consumer's utility will eventually reach a point of diminishing returns.

For example, after eating a full meal, the consumer may not feel any additional satisfaction from eating one more dessert.

The Law of Marginal Utility states that a consumer's satisfaction from a product will decrease with each additional unit consumed.

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