what is the principle of diminishing marginal benefits 
the principle of diminishing marginal benefit also known as the law of diminishing utility states that the benefits of consuming a good decrease with additional consumption although each additional unit represents a net benefit from the consumer the benefit is lower than the satisfaction received from prior consumption the bottom linemarginal benefit represents one of the most basic concepts of microeconomics this is the value or satisfaction that an economic actor gains from consuming additional units of a particular good marginal benefit also determines how much the consumer is willing to pay to consume more of a particular good 