What is marginal utility, What is Marginal Utility? Why

What is marginal utility

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Reference no: EM131088395

1) What is Marginal Utility? Why does it diminish?

2) Explain verbally, and using appropriate math/symbols, the slope of the indifference curve.

3) Write out the equation for and explain the “Consumer Equilibrium Condition” or, as it is sometimes labeled, the “Utility Maximizing Rule”.

Reference no: EM131088395

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