Can you please define diminishing marginal utility and, Ask an Expert

Economics

Total utility, marginal utility, and utility maximization

Can you please describe the concepts of total utility, marginal utility, and utility maximization.

Can you please define diminishing marginal utility and illustrate with two real-life exs - one for a business and one for an individual?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M928132

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