I was recently at my local grocery store and noticed free newspapers in a nearby bin. I was shocked at how full it was. Why doesn’t anyone run off with the entire pile?
I’ve noticed the same thing when I go grocery shopping! I often take a newspaper to catch up on local town news. Fortunately, diminishing marginal utility has the answer to your interesting question.
Because of diminishing marginal utility, each extra good or service that we consume will soon give us less extra pleasure. This idea could even be applied to eating cookies. The first cookie is delicious with warm, gooey chocolate chips, the fourth one is good but not great, and once you get to the ninth or tenth cookie eating them no longer brings you as much pleasure…it just makes you feel sick!
No one grabs the entire stack of newspapers because after you have read one, the next newspaper is no longer interesting. The additional benefit of each newspaper decreases immediately after you have read the first one. So next time you’re in the grocery store, feel free to take two newspapers to share. We know diminishing marginal utility will take care of the rest!
Please note that. this question was not submitted to Alexa, but it was based on friends’ curiosity.