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Economics

What is law of diminishing marginal utility?

A. Marginal utility decreases as we consume more and more of a commodity.
B. Marginal utility increases as we consume more and more of a commodity
C. Marginal utility remains constant as we consume more and more of a commodity
D. Varies with time and situation

CORRECT ANSWER IS: Marginal utility decreases as we consume more and more of a commodity

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