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natulia [17]
2 years ago
6

The law of diminishing utility states that added satisfaction declines as a consumer acquires additional units of a given produc

t. True or false?.
Business
1 answer:
rusak2 [61]2 years ago
4 0

The law of marginal utility states that added satisfaction declines as a consumer acquires additional units of a given product. The given statement is false.

<h3>What is marginal utility?</h3>

Marginal utility, in economics, exists as the additional satisfaction or benefit (utility) that a consumer emanates from buying an additional unit of a commodity or service. Utility stands for the satisfaction or benefits emanated by consuming a product. The marginal utility of a good or service represents how much pleasure or satisfaction exists gained or lost by consumers as a consequence of the increase or decrease in consumption by one unit. There are three classifications of marginal utility.

Diminishing marginal utility directs to the phenomenon that each additional unit of gain shows an ever-smaller increase in subjective value. For example, three bites of candy exist better than two bites, but the twentieth bite does not add much to the adventure beyond the nineteenth.

Hence, The given statement is false.

To learn more about marginal utility refer to:

brainly.com/question/15050855

#SPJ4

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Explanation:

1- Walmart wanted global expansion and it availed the opportunity to expand its business by entering Indian market, however the Indian market is far different than the US market that is why a joint-venture was required to enter the different market as Bharti Enterprises was already operating in Indian market.

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The supply schedule illustrates in a table format the relations between the price and the quantity supplied. It will show how the quantity increase as prices increases. The supply schedule is a tabular representation of the supply curve.

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