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Companies often change colour, package, design, and advertisements for their products. Is it because the companies wish to counter the impact of diminishing marginal utility.

Companies often change colour, package, design, and advertisements for their products. Is it because the companies wish to counter the impact of diminishing marginal utility.

Explain with atleast 3 suitable examples that you may have witnessed, heard, or read.Explain the law of diminishing Marginal Utility. In relation to the provided examples mention various reasons about why does the satisfaction decrease from additional consumed units? (Provide graphs and numerical inferences wherever possible)

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