DEFINITION of 'Law Of Diminishing Marginal Utility'. A law of economics stating that as a person increases consumption of a product, while keeping consumption of other products constant, there is a decline in the marginal utility that person derives from consuming each additional unit of that product.
Khalil Gibran 1883-1931 â¢ Ranked #21 in the top 500 poets Gibran Khalil Gibran was born on January 6, 1883, to the Maronite family of Gibran in Bsharri, a mountainous area in Northern Lebanon. It's been pointed out that an alternative spelling of this po Login Register Help
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