Question

VII. Answer the following in twenty sentences each.
25. Explain the law of diminishing Marginal Utility with the help of a table and diagram
26. Explain the optimal choice of consumer with help of a diagram.

pls guys at shot both answers l need pls help me​

Answer 1

Answer:

these are the answer you needed hope it helped you

Answer 2

Answer:

According to the Law of Diminishing Marginal Utility, marginal utility of a good diminishes as an individual consumes more units of a good. In other words, as a consumer takes more units of a good, the extra utility or satisfaction that he derives from an extra unit of the good goes on falling.

What is the optimal choice for consumer?The optimal choice constitutes the best combination of utilisation of the soft drink and the burger obtainable to the customer. In economics, it is presumed that the customer picks their utilisation bundle on the basis of their preferences and taste over the bundles in the budget set.

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