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To maximize your utility, marginal utility should be equal to the price of a good (marginal cost). Indicate reasons why situations such as MU >
To maximize your utility, marginal utility should be equal to the price of a good (marginal cost). Indicate reasons why situations such as MU > P and MU < P would not maximize your utility. Assume that MU and P is marginal utility and price, respectively
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The Economics of Public Issues
Authors: Roger LeRoy Miller, Daniel K. Benjamin, Douglass C. North
19th edition
134018974, 134018973, 9780134020532 , 978-0134018973
