Economy, asked by romila, 1 year ago

Define marginal utility. State the law of diminishing marginal utility

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Answered by singhsuniti2003
27
Here is ur answer....
Marginal utility is the addition utility derived from the consumption of one more unit of the given commodity.
Law of diminishing marginal utility :
This law states tha as we consume more and more units of the commodity , the utility derived from each successive unit goes on decreasing....
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