Explain the rule of marginal
utility and how it works in real life.

In economics, the law of diminishing marginal utility states that the marginal utility of a good or service declines as its available supply increases. Economic actors devote each successive unit of the good or service towards less and less valued ends.

Explanation:

first industrial revolution - the first wave of the industrial revolution lasted from the late 1700s to the mid-1800s. it industrialized the manufacture of textiles and began the move of production from homes to factories. steam power and the cotton gin played an important role in this period.