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Question
State with reason whether you agree or disagree:
There are no real exceptions to the law of Diminishing Marginal Utility.
Options
Agree
Disagree
Solution
I agree with this statement.
Explanation:
The above statement is True. There are exceptions to the law of diminishing marginal utility. This law fails to operate in case of earning money, acquiring knowledge, consumption of liquor and cigarettes, hobbies such as jewellery collection by women, stamp collection, old coins, antiques, listening to good music, and reading good poems again and again, etc. these, exceptions are only apparent. Since they violate some or the other assumptions of the law and hence, they are not real exceptions.
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