Every decision is, in fact, an economic decision. When you have to make a choice, you give something up, and what you give up is the opportunity cost of your decision. Thus every choice has a cost.
Teaching Economics in Troubled Times : Theory and Practice for Secondary Social Studies, edited by Mark C. Schug, and William C. Wood, Taylor & Francis Group, 2010.
Is there any situation where the law of diminishing marginal utility may not hold true? Discuss.