What are the limitations of the low of diminishing marginal utility
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Time period
Rare collection
Durable/ Individual goods
Abnormal man
Income, taste and habit: When income, taste and habit is changed then at that time consumer can get more satisfaction from additional unit
M.U of money remains constant
Rare collection
Durable/ Individual goods
Abnormal man
Income, taste and habit: When income, taste and habit is changed then at that time consumer can get more satisfaction from additional unit
M.U of money remains constant
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