Law of diminishing marginal utility?

In its most general form, the law" of diminishing marginal utility states that, in the absence of "tipping points", as increasing amounts of a good or of a service are consumed, past some point of consumption the utility (usefulness) of successive increases drops. This is follows from an assumption that economic actors are rational and therefore put each available amount to the best possible use, so that (on the assumption that there is no tipping point) the next available amount must then go to a less important use In mainstream economics, it is often assumed that utility can be quantified In that case, the marginal utility would be an actual arithmetic difference To get the marginal utility of the n th unit of a good or service, one could subtract the total utility without that unit from the total utility with that unit In that case, the law" of diminishing marginal utility would imply that these arithmetic differences became ever smaller quantities. Here's a purely hypothetical example: Quantity of Good Total Utility Marginal Utility 0 ... ... ... ... ... ... ... 0 ... ... ... ... ... ... undefined 1 ... ... ... ... ... ... .10 ... ... ... ... ... ... 10 2 ... ... ... ... ... ... .19... ... ... ... ... ... ... 9 3 ... ... ... ... ... ... .27... ... ... ... ... ... ... 8 4 ... ... ... ... ... ... .34... ... ... ... ... ... ... 7 5 ... ... ... ... ... ... .40... ... ... ... ... ... ... 6 6 ... ... ... ... ... ... .45... ... ... ... ... ... ... 5 If marginal utility diminishes asymptotically as in this hypothetical sequence.

Law of Diminishing Marginal Utility: A law of economics stating that as a person increases consumption of a product - whileetc.

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