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State the law of diminishing marginal utility.
State the law of diminishing marginal utility.
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The law of diminishing marginal utility states that the marginal utility derived from the consumption of a commodity must decline as more and more units of that commodity are consumed at a point in time.
The law of diminishing marginal utility states that the marginal utility derived from the consumption of a commodity must decline as more and more units of that commodity are consumed at a point in time.
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