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Question
According to the Law of diminishing marginal utility, satisfaction obtained from consumption of each successive unit ______.
Options
Increases
Decreases
Remains same
Either increases or decreases
MCQ
Fill in the Blanks
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Solution
According to the Law of diminishing marginal utility, satisfaction obtained from consumption of each successive unit Decreases.
Explanation:
The law states that marginal satisfaction falls as more successive units of a commodity are consumed. It does not generally remain constant or keep increasing.
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