Question

question :-

Define law of diminishing marginal utility .
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Answer 1

Answer:

The Law of Diminishing Marginal Utility states that the additional utility gained from an increase in consumption decreases with each subsequent increase in the level of consumption. Marginal Utility is the change in total utility due to a one-unit change in the level of consumption.

Explanation:

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Answer 2

Answer:

The Law Of Diminishing Marginal Utility states that, all else equal, as consumption increases, the marginal utility derived from each additional unit declines.