Login  Register

About the law of DMU

Posted by Nandishm on Dec 12, 2018; 1:46am
URL: http://discussion-forum.276.s1.nabble.com/About-the-law-of-DMU-tp7615489.html

Law of Diminishing Marginal Utility states that marginal utility from consuming each additional unit of a commodity declines as its consumption increases, while keeping consumption of other commodities constant. Here my doubt is that "keeping consumption of other commodities constant" means what? Here "other commodities" means which are those? Please clarify this with an example.