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ECONOMICS

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ECONOMICS
Answered Same Day Dec 22, 2021

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Robert answered on Dec 22 2021
126 Votes
What is the law of diminishing marginal utility?
Answer:
Marginal utility is defined as the change in total utility due to the consumption of one more unit
of a good. In other words, it is the increase in total utility when consumer consumes one more
unit of a good.
Law of diminishing marginal utility states that as a...
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