What is marginal utility, What is total utility? What is

What is marginal utility

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Reference no: EM133564499

Assignment:

1. What is total utility?

2. What is marginal utility?

3. What is the law of diminishing marginal utility?

4. When is total utility maximized?

5. What is the relationship between marginal utility and the demand curve?

6. What happens to consumer surplus when the price of a good decreases?

Reference no: EM133564499

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