Name this economic concept which diminishes as quantity increases, defined as the amount of benefit gained by an individual when one more unit of a good is produced or purchased.
The Edgeworth Box sets this concept to be zero across all points. Eugen Slutsky then derived a formula for choice which utilized the points at which this concept is zero. William Stanley Jevons essentially first described this concept, beginning its namesake revolution. This concept is often illustrated using the example of diamonds and water in a desert. Name this economic concept which diminishes as quantity increases, defined as the amount of benefit gained by an individual when one more unit of a good is produced or purchased.
The Edgeworth Box sets this concept to be zero across all points.
{marginal utility} [do not accept or prompt on partial answer]