As an individual earns additional income,the marginal utility of income tends to

Name: As an individual earns additional income,the marginal utility of income tends to
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Question

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According to the law of diminishing marginal utility, as an individual earns additional income, the satisfaction or usefulness they derive from each additional unit of income tends to decrease. Therefore, the marginal utility of income tends to decrease as income increases.

As an Individual Earns Additional Income,the Marginal Utility of Income