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Which of the following is correct in reference to the law of diminishing marginal utility? Marginal utility increases at first, but after some point starts

Which of the following is correct in reference to the law of diminishing marginal utility?

  • Marginal utility increases at first, but after some point starts to decline.
  • Marginal utility increases as more of a product is consumed.
  • The amount of additional utility decreases as successive units of a product are consumed.
  • Total utility declines at first, but after some point starts to increase.

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