This document discusses two economic laws: the law of diminishing marginal utility and the law of equi-marginal utility. The law of diminishing marginal utility states that as consumption of a good increases, the marginal utility from each additional unit decreases. The law of equi-marginal utility states that consumers will allocate their income across different goods such that the marginal utility per rupee spent is equal for all goods. The document also provides definitions of utility, marginal utility, total utility and exceptions to the laws.