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    Diminishing marginal utility in real life: Creative example

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    Diminishing marginal utility explains a lot about human behavior. For example, it helps illuminate why diets fail, romances fade, too much exercise harms us, and many other things. Select a human behavior and construct a "mini case study" that highlights the workings of marginal utility.

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    When I first got cable television, I spent a lot of time watching WWE wrestling programs. I derived greater utility from watching wrestling than from any of the other activities that I might have been doing at the time. However, as I watched ...

    Solution Summary

    This mini-case study gives a creative example of how a certain behavior can be explained by the law of diminishing marginal utility.