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Suppose you are starving and have not eaten food all day. When you finally start to eat, the first bite will give you a lot
Suppose you are starving and have not eaten food all day. When you finally start to eat, the first bite will give you a lot of satisfaction. As you keep eating more and more food, your appetite will decrease and come to a point where you don't want to eat anymore. This behavior is consistent with the law of:
Scarce resources
Diminishing return
Diminishing marginal utility
Diminishing marginal product
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