Economy, asked by vivekgusai32, 4 months ago

define marginal utility. State the law of diminishing marginal utility​

Answers

Answered by adithyakrishnan6137
0

Answer:

Marginal Utility is an additional utility which can be derived by consuming one more unit of a commodity.

Law of diminishing marginal utility states that as we consume more and more units of a commodity, the utility derived from each successive unit goes on decreasing.

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