applications of law of dmu
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Serves as foundation for other economic laws
Helps in business
Scheduling purchases
Public Finance
Helps in business
Scheduling purchases
Public Finance
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1
Answer:
The law of diminishing marginal utility has both theoretical as well as practical applications. ... This helps the producers in framing the prices because when consumers need to attain the equilibrium then they may purchase more of the commodity to reduce the marginal utility.
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