Q5explain the law of diminishing marginal utility and the relationship between total utility and the marginal utility .
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The law of diminishing marginal utility is a law of economics stating that as a person increasing consumption of product while keeping consumption of other products constant.
Total utility is the total satisfaction received from.consuming a given total quantity of a good or service
marginal utility is the satisfaction gained from consuming other quantities of a good or service.
Total utility is the total satisfaction received from.consuming a given total quantity of a good or service
marginal utility is the satisfaction gained from consuming other quantities of a good or service.
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