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Use diminishing marginal utility theory to explain why people would prefer stable income to receive the same total income but with much more variation week to week.

Microeconomics A Contemporary Intro

10th Edition

ISBN:9781285635101

Author:MCEACHERN

Publisher:MCEACHERN

Chapter12: Labor Markets And Labor Unions

Section: Chapter Questions

Problem 3QFR

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Use diminishing marginal utility theory to explain why people would prefer stable income to receive the same total income but with much more variation week to week.

Definition Definition Satisfaction derived from the consumption of an additional unit of any commodity.

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