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| 1. |
What is the low of diminishing marginal utility |
| Answer» Thee law states that when consumer consume more and more quantity of one good then the each additional of marginal utility will be declining.<br>T<br>It states as more and more unit of good is consumed continously without any time gap then MU derived from it must decline.<br>It states that as more and more units of a commodity are consumed,marginal utility derived from every additional unit must decline. It happens in respect of all goods and services. | |