Law of diminishing marginal utility

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Tom D.

University of Warwick - BSc Economics

A-level examiner. Panel judge of the Royal Economics Society essay competition. Former BBC News senior producer.

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The videos below are from the YouTube channel Enhance Tuition. Subscribe to keep up to date with the latest videos.

Diminishing marginal utility and the demand curve

This video explains the law of diminishing marginal utility and establishes a link between diminishing marginal utility and the individual and market demand curve.

The equimarginal principle

This video uses the equimarginal principle to explain how a rational consumer maximises utility within a given budget constraint.

Behavioural economics and the limitations of marginal utility theory

This video explains the limitations of marginal utility and why consumers do not always act rationally.

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