Question

Explain the law of diminshing marginal utility with diagram?
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Answer 1

Draw graph.

Make DMU line

Draw line increasing until a peak.

Then Drop at same rate as increase.

Step-by-step explanation:

Just like the law of Diminishing marginal returns, The Law of diminishing marginal utility will max out at a certain point. This point is usually where the firms payment, space, and other capabilities are maxed out at the moment.