Economists assume that the goal of consumers is to maximize marginal utility.
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Q9: Consumer equilibrium occurs at the point where
Q10: Indifference curves are generally downward sloping and
Q11: Marginal utility is always a positive number.
Q12: Economists David Zizzo and Andrew Oswald found
Q13: An indifference curve shows all the combinations
Q15: It is possible for total utility to
Q16: Research presented in the textbook shows that
Q17: Economists assume that the goal of consumers
Q18: Adam Smith observed that often things that
Q19: Indifference curves are generally downward sloping, they
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