Economy, asked by swatikri, 1 year ago

consumer equilibrium and law of diminishing marginal utility?

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Answered by Adityaanand20

Answer:

Law of Diminishing Marginal Utility states that marginal utility from consuming each additional unit of a commodity declines as its consumption increases, while keeping consumption of other commodities constant. ... In the example, TU does not change at 5th unit of consumption and therefore MU5= 0.

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