Answer, Explain and Discuss the following statements

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A. Jevon's concepts: 1. Understand and explain why consumption and wants are important to Jevon's Theory of Utility. 2. Elaborate on Jevon's concept of diminishing marginal utility. 3. Discuss and explain Jevon's locus on pleasure and pain in relation to his concept of utility. 4. Analyze and explain why utility is not inherent in a good