Question 1.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 suitable examples that you may have witnessed, heard, or read.Explain the law of diminishing Marginal Utility.

1. Description and definition of the concepts asked for in the questions before giving necessary examples should be included.
2. Examples of each of the parameters, namely - Colour, package/design, the advertisement should be covered in depth.