Instructions For this weeks homework, choose any three of the chapter 19 questions to complete. In a Word or Google Doc (make sure if you use Google Docs you share the document) document, provide your answers to the six questions. Be sure to identify which question number in the chapter you are answering. QUESTIONS FOR FURTHER THOUGHT AND DISCUSSION 1. Explain the law of diminishing marginal utility. and give an example to illustrate it. 3. It'you were to consume ve hamburgers at Wendy's, would you enjoy a consumer surplus? Explain your answer. 3. How do we measure utility? Arc interpersonal comparisons valid? Why or why not? 4. Why would Tommy Watson eventually reach the point of negative marginal utility at an all-you-can-eat restaurant? 5. Explain the water-diamond paradox. 6. PracticalApplication; What if you could walk into a music store and get as many CDs as you wanted for free. provided that you listened to 30 seconds of each song on each CD? Question: How many CD5 would you listen to? Explain your answer in terms of marginal utility. 7'. PracticaiApplicatiou; Miles Standish invented a ll-caloric 6-ouncc milkshake. which he sold at his candy store. He noticed that each of his customers purchased at least two shakes. (a) Can you gure out how many of his customers were enjoying a consumer surplus? (b) How could Mr. Standish lower their consumer surplus? 8. Prat-rim! Application.- Can you think of one good and one service that you consume that provide you with a consumer surplus? Page 533