The law of diminishing marginal utility states that as a consumer consumes more and more unit of a specific commodity, the utility of the specific commodity goes on diminishing.
For example, Suppose a man is hungry he goes to the market and buy one plate pani puri, the first plate of pani puri gives him immense pleasure si the utility of the first plate of pani puri is high, if he order a second plate the utility will be less than the first plate because he is not as hungry as he was in the first time.
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