Explain why a rational consumer does not spend all of her income buying only her favorite product.
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Q111: Utility is defined as the satisfaction or
Q112: Q113: If the MU per dollar spent on Q114: Consumer surplus is the additional amount that Q115: Assume the utility Janet obtains from consuming Q117: Marginal utility is the additional utility derived Q118: The law of diminishing marginal utility suggests Q119: What does marginal utility mean,and what is Q120: "If marginal utility is decreasing,then total utility Q121: Table 5.2 shows Rachel's total utility from
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