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Topic: Law of Diminishing Marginal Utility
An important law in economics is the “Law of Diminishing Marginal Utility”. Discuss what this law is and provide an example of diminishing marginal utility you`ve encountered recently.
Law of Diminishing Marginal Utility Name Institution Law of Diminishing Marginal Utility In economics, the law states that when the consumption of a product by a person increases if the use of other products is kept constant then the marginal uti...