What Can the Law of Diminishing Marginal Utility Teach Us? Mises Institute
Thus, the marginal utility of commodities decreases with the increasing supply of those commodities. The popular statement of the law of diminishing marginal utility was made by an Anglo-Irish philosopher, Rev. T. R. Malthus, and also Dugald Stewart on the basis of extensive examination of common experiences and also on the basis of daily life. …
What Can the Law of Diminishing Marginal Utility Teach Us? Mises Institute Read More »