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Law of Diminishing Marginal Utility

The Law of Di...

Question

The Law of Diminishing states that as more units of a good are consumed, marginal utility reduces.

A

Marginal Utility

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B

Total Utility

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C

Average Utility

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D

Returns

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Solution

The correct option is A Marginal Utility
The Law of Diminishing Marginal Utility states when more units of a commodity are consumed, marginal utility reduces.

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Law of Diminishing Marginal Utility

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