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1. What does marginal utility mean, what is the law of diminishing marginal utility 2. Explain why a rational consumer does not spend all her
1. What does marginal utility mean, what is the law of diminishing marginal utility 2. Explain why a rational consumer does not spend all her income buying only her favourite product? 3. Explain the relationship between the marginal utility of a product and the demand for it. 4. If marginal utility is decreasing total utility must also be deceasing, Is this correct
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