Why does the first slice of cake satisfy me more than the subsequent ones?

Question

After the third slice the marginal utility becomes <= 0 and I just hit the “refractory period”

In: Biology

Answer 1

i’ve learned this in microeconomics! this is because the law of diminishing marginal utility, meaning each unit of an item consumed gives you less utility than consumption of the previous unit. this law applies to pretty much everything. for example, you get a lot of joy after listening to your favorite song. but after you listen to it for the second time, you still enjoy it but not as much as the first time you listen to it. eventually you may listen to it so many times that it gives you disutility.