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Amusement goods - PowerPoint PPT Presentation

C hapter 5

C hapter 5. Marginal Utility and Consumer Choice. Economic Principles. Total utility and marginal utility Law of diminishing marginal utility Relationship between the law of demand and the marginal-utility-to-price ratio Consumer surplus Difficulties with interpersonal comparison of utility.

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Amusement goods - PowerPoint PPT Presentation

C hapter 5