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Utility Assignment | Homework For You

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December 6th, 2019
  • Describe the relationship between total utility and marginal utility.
  • Explain if marginal utility can be negative.

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  • Examine the diamond-water paradox. Why are diamonds more expensive than water?
  • Evaluate the law of diminishing marginal utility.
  • Identify some items, explaining your reasoning, that do not follow the law of diminishing marginal utility.
  • Evaluate how the law of diminishing marginal utility can explain the diamond-water paradox. Get Economics homework help today

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