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Zadie can buy two kinds of goods, food and clothing. She earns 400 per week. Food items cost 4 each, and items of clothing cost

Zadie can buy two kinds of goods, food and clothing. She earns £400 per week. Food items cost £4 each, and items of clothing cost £20 each.

Explain what it means to say that Zadie’s preferences show a diminishing marginal rate of substitution of food for clothing. What is the intuitive justification for diminishing marginal rates of substitution?

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