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Question
Marginal utility
a. occurs when total utility declines as consumption increases.
b. is the additional satisfaction derived from consuming one more unit of a good or service.
c. is the combination of goods and services that maximizes utility for a given income.
d. occurs when a consumer buys more of a good as a result of a relative price change.
e. occurs when there is a change in purchasing power as a result of a change in the price of a good.
Answer
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Related questions
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