Diminishing Marginal Utility

Question: Discuss about the Diminishing Marginal Utility. Answer: Introduction: Last week after classes I felt quite hungry, so I decide to buy five slices of pizza for $2.5 in one of our nearby shopping mall. After buying the pizza, I ate the first slice and felt like I needed to take another one. After consuming the second slice of pizza, my appetite began to reduce, and I could not derive the same utility as that obtained after consuming the first slice. By the time I was on the fourth slice, I had started feeling some discomfort since my stomach was already full. I didn't even take the fifth slice since it could have led to the negative utility. The second experience was when some years back I tried to ascertain how long I could hold my breath when under water. I held my breath while under water until I almost fainted. The moment I came out of the water, the first breath was very crucial. The second to tenth breath provided an additional utility or satisfaction. By the time I was on the tenth breath, I was already feeling normal as if nothing wrong had happened. My friend's hobby is reading novels, especially during his free time. He usually tells me that he gets more and more satisfaction by reading more and less utility by reading fewer books. In this case, the law fails to prevail since hobby is one of the exceptions or elements which go against the rule. (Sivagnanam Srinivasam, 2010). Reference Sivagnanam, K. J., Srinivasan, R. (2010).Business economics. New Delhi: Tata McGraw Hill.