Law of Diminishing Marginal Utility

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  • 402 - Economics
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Utility, Marginal Utility, Law of Diminishing Marginal Utility explanation with table and diagram

402 - Economics | Autumn 2022 | Assignment No 1 | Question No 2| Is utility another name of usefulness? After discussing marginal utility, define law of diminishing marginal utility. Also explain this law with the help of a table having hypothetical data and the diagram drawn on the basis of this hypothecal table.

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