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(1) In your own words, give an example of a choice that you make that exhibits the law of diminishing marginal utility. (2) E
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The Law Of Diminishing Marginal Utility states that all else equal as consumption increases the marginal utility derived from each additional unit declines.Utility is an economic term used to represent satisfaction or happiness.

Consuming one candy bar may satisfy a person's sweet tooth. If a second candy bar is consumed, the satisfaction of eating that second bar will be less than the satisfaction gained from eating the first. If a third is eaten, the satisfaction will be even less.

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