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The law of diminishing marginal utility

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The law of diminishing marginal utility is clearly summarized.

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See Also This Related BrainMass Solution

Economics: Law of Diminishing Marginal Utility

1. Which gives you greater total utility, 12 gallons of water per day or 20 gallons per day? Why?

2. At which level do you get greater marginal utility, 12 gallons per day or 20 gallons per day? Why?

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