A classic example of marginal utility is the fast food combo ... the additional cost is low compared to the perceived benefit, making the deal appealing. This is an application of diminishing ...

It's not the case that marginal costs keep decreasing as firms achieve economies of scale. Once factories reach capacity, there will be diminishing returns. Let's take a bakery as an example.

For example, if a person earns Rs 12.10 lakh ... or other special-rate earnings are not eligible for this relief. The marginal relief benefit applies strictly to standard income taxed under ...