Law of Diminishing Marginal Utility : Managerial Economics important topic
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Law of Diminishing Marginal Utility : Managerial Economics important topic
Law of Diminishing Marginal Utility The Law of Diminishing Marginal Utility states that as a consumer consumes more and more units of a commodity, the additional satisfaction (utility) obtained from each successive unit goes on decreasing, while the consumption of other goods remains constant. In simple words, the first unit of a good gives the ...
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