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microeconomics

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The Law of Diminishing Marginal Utility [WLO: 3] [CLOs: 1, 2, 3] Prior to beginning work on this discussion, read Farah Mohammeds article, , as well as Chapter 5 in your textbook, especially Sections 5.1 and 5.3, and respond to the following: Describe the relationship between total utility and marginal utility. Explain if marginal utility can be negative. Examine the diamond-water paradox. Why are diamonds more expensive than […]

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