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The marginal utility of consuming a good increases at a decreasing rate.
Legitimate Power
Power that is recognized as rightful or lawful, often derived from a position of authority or social structure.
Expert Power
The influence and authority a person has as a result of their expertise, skills, or knowledge.
Referent Power
A form of power that stems from being admired or respected, often due to charismatic qualities or identification with the person who has the power.
Legitimate Power
The authority an individual has because of their position in an organization's hierarchy, contributing to their ability to influence others.
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