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Use diminishing marginal utility to explain why millionaires often do not have many homes, even if they can afford it

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Use diminishing marginal utility to explain why millionaires often do not have many homes, even if they can afford it

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

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