The phenomenon of diminishing marginal utility refers to, Ask an Expert

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The phenomenon of diminishing marginal utility refers to the fact that A. People do not like additional units of a good. B. It is unfair to give more of a good to a person with high marginal utility. C. The extra gain from having 1 more unit of a good becomes smaller as a person consumes more of any good. D. Efficiency is decreased if people consume more of a good.

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