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The Law of Diminishing Marginal Utility Explained in One Minute: From Definition to Examples
1:13
YouTubeOne Minute Economics
The Law of Diminishing Marginal Utility Explained in One Minute: From Definition to Examples
The law of diminishing marginal utility is a textbook example of something that sounds remarkably complicated to the untrained eye but is actually ridiculously serious to understand. Before explaining what the law of diminishing marginal utility is all about, I've chosen to first define the concepts of utility and marginal utility. Furthermore ...
274.6K viewsJul 25, 2019
Utility Maximization Theory
Concept of Utility | Economics | Consumer Behavior | Cardinal & Ordinal | Bcom Part 1 | Apna Teacher
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