The law of diminishing marginal utility implies that as a household consumes more of a product, its total utility will increase by larger amounts -assuming marginal utility remains positive.

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The law of diminishing marginal utility states that as a household consumes more of a product, the additional satisfaction (marginal utility) gained from consuming each additional unit decreases, assuming marginal utility remains positive. Total utility continues to increase but at a decreasing rate.

The Law of Diminishing Marginal Utility Implies That as a Household