Which the law of diminishing marginal utility is that

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Problem 1: The law of diminishing marginal utility is that, in general,

Option 1: the more you consume, the less your utility.

Option 2: utility always diminishes after the first unit is consumed.

Option 3: people overspend on items that they enjoy.

Option 4: the consumption of the first unit of any commodity adds more to total utility than the consumption of subsequent units.

Reference no: EM132950743

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