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2 days ago

The marginal utility of a good (e.g., bananas) declines with increases in the consumption of that good. This phenomenon is referred to as the



• Law of Diminishing Marginal Utility.

• Engel's Law.

• Law of Demand.

• None of these.
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Introduction to Agricultural Economics
Edition: 7th
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Law of Diminishing Marginal Utility.
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