This is how we define diminishing marginal utility — Total utility increases at a diminishing rate and/or marginal utility of successive increase in wealth decreases.
Topic to write about: Billionaire investor Warren Buffett says that for wealthy people there comes a point where money “has no real utility.” If you are the CEO of a philanthropic organization as for example the http://givingpledge.org/faq.aspx (Links to an external site.) how would you convince billionaire’s to give away their money for charitable causes.
Use the concept of diminishing marginal utility to write this essay.
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