It doesn't apply to money. Imagine if you gave a homeless guy a 20 dollar bill, as compared to giving Bill Gates a 20 dollar bill. The marginal utility for the homeless guy would be much more than the marginal utility of Bill Gates, who already has billions of dollars and thus won't really care about 20 bucks.
Through this logic, it also doesn't apply to jewelry (giving someone their first necklace as compared to giving someone their thousandth necklace has more marginal utility).
The only thing this really applies to is addictive drugs: As you get more of them, the marginal utility increases.
Through this logic, it also doesn't apply to jewelry (giving someone their first necklace as compared to giving someone their thousandth necklace has more marginal utility).
The only thing this really applies to is addictive drugs: As you get more of them, the marginal utility increases.