Affects the consumption pattern for goods and services

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Reference no: EM131115094

-Select a specific consumer behavior and construct that highlights the workings of marginal utility and how it affects the consumption pattern for goods and services.

-Using the Diamond-Water Paradox as a guide and two other goods of your choice, illustrate the paradox of value.

-Explain the roles total utility and marginal utility play to understand this paradox.

Reference no: EM131115094

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