1.3. In each of the following cases, does the consumer have diminishing, constant, or increasing marginal utility?...

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1.3. In each of the following cases, does the consumer have diminishing, constant, or increasing marginal utility? Explain your answers.

a. The more Mabel exercises, the more she enjoys each additional visit to the gym.

b. Although Mei’s classical CD collection is huge, her enjoyment from buying another CD has not changed as her collection has grown.

c. When Dexter was a struggling student, his enjoyment from a good restaurant meal was greater than now, when he has them more frequently.

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Economics

ISBN: 978-0716771586

2nd Edition

Authors: Paul Krugman ,Robin Wells

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