Consumer behavior and construct mini case study

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Select a specific consumer behavior and construct a “mini case study” that highlights the workings of marginal utility and how it affects the consumption pattern for goods and services.

Using the Diamond-Water Paradox as a guide (refer to page 124 of the textbook) and two other goods of your choice, illustrate the paradox of value.

Explain the roles total utility and marginal utility play to understand this paradox.

Reference no: EM131391774

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