When the consumer gets larger quantity of a product, the marginal utility of the product diminishes.
Marginal utility can be said as the change in the total utility resulting from one unit change in the consumption of a product per unit of time.
Example:-
Chandu loves to eat paneer. So he gets 4 plates of paneer. As he eats one plate, he tginks that this is the most delicious paneer he ever had. When he took the 2nd plate, he was also satisfied, even though as much as not the 1st plate. By the 3rd plate, Chandu felt so full that when he was trying to eat the 4th plate he was unable to eat anymore. The more he consumed paneer, the less satisfied he was.
Marginal utility can be said as the change in the total utility resulting from one unit change in the consumption of a product per unit of time.
Example:-
Chandu loves to eat paneer. So he gets 4 plates of paneer. As he eats one plate, he tginks that this is the most delicious paneer he ever had. When he took the 2nd plate, he was also satisfied, even though as much as not the 1st plate. By the 3rd plate, Chandu felt so full that when he was trying to eat the 4th plate he was unable to eat anymore. The more he consumed paneer, the less satisfied he was.
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