Economy, asked by nisha8245, 11 months ago

what is law of diminishing marginal utility? In short

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Answered by GôldGrâće

0

The Law Of Diminishing Marginal Utility states that all else equal as consumption increases the marginal utility derived from each additional unit declines. Marginal utility is derived as the change in utility as an additional unit is consumed. Utility is an economic term used to represent satisfaction or happiness.

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