You have just returned from seeing a movie with a friend and are relaxing at home. Another friend calls and asks whether you wil

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2 years ago

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l watch the same movie with her. Though you enjoyed the movie, you are not interested in watching it again. This scenario is an example of the:

1 answer:

Katena32 [7] · Answer 1 · 2023-03-30T18:00:54+03:00

The scenario that is illustrated here about the movie can be referred to as the the law of diminishing marginal utility

<h3>What is the law of the law of diminishing marginal utility?</h3>

This law states that as a persons consumption increases, the maximum utility they get from an additional unit of the good would fall.

This can be illustrated as, watching the movie does not seem to please the character anymore because no additional utility would be gained.

Read more on diminishing marginal utility here:

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