{"id":3324,"date":"2021-07-01T20:09:36","date_gmt":"2021-07-01T14:39:36","guid":{"rendered":"https:\/\/scholarsclasses.com\/blog\/?p=3324"},"modified":"2025-10-07T12:29:45","modified_gmt":"2025-10-07T06:59:45","slug":"criticism-of-law-of-diminishing-marginal-utility","status":"publish","type":"post","link":"https:\/\/scholarsclasses.com\/blog\/criticism-of-law-of-diminishing-marginal-utility\/","title":{"rendered":"Criticism of Law of Diminishing Marginal Utility (DMU) | Free Economics Articles"},"content":{"rendered":"\n

Criticism of Law of Diminishing Marginal Utility<\/mark><\/h2>\n\n\n\n

What are the Criticism<\/a> of Law of Diminishing Marginal Utility?<\/mark><\/h3>\n\n\n\n

Statement of the Law of DMU:<\/strong>
According to Prof. Alfred Marshall, \u201cOther things remaining constant, the additional benefit which a person derives from a given increase in his stock of a thing, diminishes with every increase in the stock that he already has.\u201d<\/p>\n\n\n\n

In other words, a marginal utility that any consumer derives from successive units of a particular commodity goes on diminishing as his or her total consumption of that commodity increases. In short, the more of a thing you have, the less you want to have more of it.<\/p>\n\n\n\n