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Originally Posted by upallnight
Is that like Alternative Facts???
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It's something we learned about in school. If anyone didn't,
LMGTFY
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In economics, utility is the satisfaction or benefit derived by consuming a product, thus the marginal utility of a good or service is the change in the utility from increase or decrease in the consumption of that good or service. Economists sometimes speak of a law of diminishing marginal utility, meaning that the first unit of consumption of a good or service yields more utility than the second and subsequent units, with a continuing reduction for greater amounts. Therefore, the fall in marginal utility as consumption increases is known as diminishing marginal utility. Mathematically, MU1>MU2>MU3......>MUn. The marginal decision rule states that a good or service should be consumed at a quantity at which the marginal utility is equal to the marginal cost.
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