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For Your Typical Consumption Levels of Water and Diamonds, the Good

Question 107

Multiple Choice

For your typical consumption levels of water and diamonds, the good with the higher marginal utility is ; the good with the higher total utility is ; and the good with the greatest consumer surplus is .


A) water; water; water
B) diamonds; water; water
C) water; water; diamonds
D) water; diamonds; water
E) diamonds; water; diamonds

Correct Answer:

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