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A basic hypothesis of marginal utility theory is that the utility a consumer derives from successive units of a good diminishes as total consumption of the good increases.This hypothesis is known as
Encoding
The process of converting information into a form that can be stored in memory, typically involving sensory input being transformed into meaningful representations.
Storage
The process of retaining information or materials over time, applicable both to memory in the human brain and to physical repositories like warehouses.
Retrieval
Refers to the process of accessing and retrieving information from one's memory.
Acquisition
The process of learning or acquiring new information or behaviors.
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