The theory of diminishing marginal utility states that as more units of a commodity are consumed, the

The theory of diminishing marginal utility states that as more units of a commodity are consumed, the satisfaction or utility derived from an extra unit decreases. This means that the more you consume a particular good or service, the less satisfaction or utility you will derive from consuming an additional unit of that good or service. In other words, the more you have of something, the less valuable it becomes to you. This concept is important in economics as it helps explain consumer behavior and demand for goods and services.