Herms Birkin Bag Made From Crocodile Skin and Diamonds A Herms bag sold for $300,000 during Christies online auction The rare Herms Diamond Himalaya Birkin 25 is made from the skin of Africas Niloticus crocodile and features 18k gold and diamonds a If the price of an ordinary bag is $100, what can ...

a The concept of marginal utility states that as a consumer acquires more units of a good or service the additional satisfaction or benefit derived fr ...

Herms Birkin Bag Made From Crocodile Skin and Diamonds A Herms bag sold for $300,000 during Christies

Question:

Hermès Birkin Bag Made From Crocodile Skin and Diamonds A Hermès bag sold for $300,000 during Christie’s online auction. The rare Hermès Diamond Himalaya Birkin 25 is made from the skin of Africa’s Niloticus crocodile and features 18k gold and diamonds.

a. If the price of an ordinary bag is $100, what can we infer about the marginal utility of an ordinary bag and the marginal utility of a Hermès Diamond Himalaya Birkin 25 for a person who buys one ordinary bag and one Hermès Diamond Himalaya Birkin 25?

b. Why might the marginal utility from a Hermès Diamond Himalaya Birkin 25 decrease more rapidly than the marginal utility from an ordinary bag?

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