Economy, asked by anjancbp1, 8 months ago

Explain the law of diminishing marginal utility with a schedule anddiagram.

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Answered by shreema2007

2

Answer:

It should be carefully noted that is the marginal utility and not the total utility than declines with the increase in the consumption of a good. ... The law of diminishing marginal utility means that the total utility increases but at a decreasing rate.

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