Is an increase in total utility or satisfaction following an increase in income consistent with the law

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Is an increase in total utility or satisfaction following an increase in income consistent with the law of diminishing marginal utility?

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Managerial Economics

ISBN: 978-0324588866

12th edition

Authors: Mark Hirschey

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Question Posted: Feb 13, 2015 09:48 AM

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Is an increase in total utility or satisfaction following an increase in income consistent with the law

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Yes the law of diminishing marginal utility states t...View the full answer

Managerial Economics

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