Learning Contents:                                                                                                             Introduction to Law of Diminishing Marginal utility/ Gossen’s First Law of Consumption.   Assumptions of Law of Diminishing Marginal Utility. The simple experiment of understanding LDMU Introduction H.H.Gossen, a german economist was the first who found this law in Economics in 1854. Therefore, Jevons called this law  “Gossen’s First Law of Consumption”. But credit goes to Marshall because he perfected this law on the basis of cardinal analysis. This law is based on the characteristics of human wants, i.e., wants are satiable or might get full or satisfied. The law of diminishing marginal utility says that as more and more units of a commodity are consumed, the satisfaction received from the consumption of every additional commodity will decline. In simple words, we say if we have more of a thing, then we will receive less and less satisfaction from