Define marginal utility. State the law of diminishing marginal utility
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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....
I hope this answer help you to make it brainlient 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....
I hope this answer help you to make it brainlient answer....
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