Suppose I am deciding how many Louis Vuitton (L) wallets to buy money is limitless in supply.
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Suppose I am deciding how many Louis Vuitton (L) wallets to buy money is limitless in supply. Suppose my "utility" or happiness function is represented by U= 20 + 5C, describe fully how marginal analysis can be used to determine the optimal decision.Be sure to draw a graph and provide a clear description of the marginal analysis technique as applied to your example.
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