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According to the law of diminishing marginal utility, marginal utility of a good diminishes as an individual consumes more units of the good. The Total Utility increases but at a decreasing rate. This law has been arrived at by introspection and by observing how people behave.
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Bbbbbbbbbbb According to the Law of Diminishing Marginal Utility
According to the law of diminishing marginal utility, marginal utility of a good diminishes as an individual consumes more units of the good. The Total Utility increases but at a decreasing …