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Monday, February 14, 2011

Equimarginal Rule - Marginal Utility

Solution is available here for U$15

Total and Marginal Utility in section 7.1.

Question #1: To understand these important rules/principles properly, please do the following.

a.    Make a table similar to the Table 7.1 but using your own list of commodities and their prices and your own schedule of utility for each of the commodity.
  1. Do not select more than 4 commodities.
  2.  

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