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In general, the law of diminishing marginal utility states that. In our discussion on this part of the book, unless otherwise stated, the sections mentioned are those of the indian contract act, 1872. Explain the concept of workers participation in management. Law in a broad sense means rules, regulations, guidelines, principles etc. Proposal when one person signifies to another his willingness to do or to abstain from doing anything, with a view to obtaining the assent of that other to such act or abstinence, he is.
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