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When Jim has a lot of french fries relative to tater tots, he is willing to give up a lot of french fries to gain
When Jim has a lot of french fries relative to tater tots, he is willing to give up a lot of french fries to gain another tater tot. When Jim has few french fries relative to tater tots, he is willing to give up fewer french fries to gain another tater tot. This illustrates the concept of ________________. Group of answer choices diminishing opportunity set increasing marginal rate of transformation increasing marginal utility diminishing marginal rate of substitution
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